Guide · Retirement
How can a financial adviser help with phased retirement?
Phased retirement mixes earned income with pensions, investments and changing spending. The plan has to adapt as work reduces.
Income changes in stages
Moving from full-time to part-time work can reduce the amount that needs to be withdrawn from pensions and investments in the early retirement years.
Pension timing becomes a planning choice
The adviser can help model whether to leave pensions untouched while earnings continue, draw some benefits earlier or use other savings first, depending on the wider circumstances.
Useful questions to model
HoursHow quickly is work expected to reduce?
SpendingWill lifestyle spending change when more free time becomes available?
PensionsWhen do different pension incomes start?
ContingencyWhat happens if work stops earlier than planned?
Look for retirement-planning experience
The useful adviser is one who can plan the transition, not simply recommend a pension product.
Sources & further reading