Length of course:  Half day (face to face)

Summary

To encourage a positive and realistic approach to a financially secure retirement and help employees make informed choices about retirement.

Aimed at

Employees, regardless of grade considering retirement within the next three years.

Learning Objectives

  • Identify changes in lifestyles and options available to build a new way of life
  • Explore choices which need to be made about occupational pension before leaving
  • Identify where income is expected to come from and how it is taxed differently in retirement
  • Understand the State Pension and different types of workplace pensions
  • Learn about the risks and reward involved in savings and investments
  • Discover why increased life expectancy escalates the dangers of inflation and how to combat it
  • Find out how to ensure the estate is passed to the intended beneficiaries
  • Know how to deal with long term care costs and inheritance tax
  • Understand the next steps and where to receive further guidance and regulated financial advice

Course Structure

Changes to your lifestyle

  • Considerations for retirement
  • What does retirement mean?
  • Changes in the use of personal time
  • Getting the most out of retirement

Can you afford to retire?

  • Taxation in retirement
  • Income and expenditure in retirement
  • Changing income needs

The State Pension

  • Explaining the State Pension
  • State Pension eligibility
  • State Pension forecast

Workplace pensions

  • Defined Benefit schemes
  • Defined Contribution schemes
  • Tax implications
  • Pension scams

Employer specific workplace pensions

  • Explanation of the scheme(s)
  • Options at retirement
  • Impact of early retirement
  • Options for increasing benefits
  • The impact of death in retirement
  • Options on how to receive your pension(s)

Inflation in retirement

  • How inflation can erode the value of money over time

Savings and investments

  • Understanding investment risk
  • Risk and return in the real world

Taxation

  • Income tax in retirement
  • Tax allowances

Estate Planning

  • Inheritance Tax
  • Wills and intestacy
  • Power of attorney

Long term care

  • The cost of care
  • Financial assessment explained
  • Paying for care home costs

For further details please contact events@affinityconnect.org or contact Training on 0800 019 6076.