Ready to retire

Get everything in place so you’re ready to retire.

AXA and LifeSight are keen to ensure that you take full advantage of the support and information available to help you understand what you can do and make an informed choice.

As you get closer to retirement, there are various resources to help you in your planning and decision making.

2 years from retirement

Roadshows and seminars

If you are currently employed by AXA, you can go to our annual pension roadshows each year. Please contact the AXA Pensions Team for more details.

AXA will also pay for you to attend a pre-retirement course with Close Brothers if you are within two years of retirement. You will need to get your manager’s approval to go on this course and book a place on the website. The course provides information on your retirement options, as well as help with the lifestyle changes retirement brings.

Guides

LifeSight currently offers three guides to help with planning for retirement:

  1. Planning for Retirement Guide
  2. HUB Financial Solutions
  3. At Retirement Guide

Tools

From 15th December, in addition to the LifeSight ageOmeter which helps you align your retirement age with decisions on your investment and retirement options, your LifeSight Account offers a Spending Planner. This tool will allow you to enter details of all your savings pots and model how the combination of these pots can be used to fund each year of retirement.

Useful websites

Pension Wise - We encourage all members over age 50 who are looking to retire in the near future to use the Government’s free guidance service, Pension Wise. You can visit their site and book an appointment to speak to someone about your options at www.pensionwise.gov.uk.

Financial adviser – We recommend initially taking advantage of the HUB Financial Solutions offered by LifeSight, noted above. After using this service, you may wish to take independent financial advice. Unlike the other sources of information, a financial adviser will provide personalised advice based on information you provide about your circumstances. You can find out about using a financial adviser on the Money Advise Service website.

Please note that financial advisers charge for their services.

If you have any questions during this process, contact the Pensions Team or LifeSight using the details on the contact us page.

6 months from retirement

6 months before your Target Retirement Age, LifeSight will work with HUB Financial Solutions to provide a comprehensive service to help you understand and make your future retirement decisions.

HUB Financial Solutions

HUB Financial Solutions offers free guidance through a call to answer your questions and advise which retirement option might be right for you.

A retirement advice service is offered by HUB which is an advice process that supports you on the journey to retirement, looking at all savings and options available to you (including annuity purchase, cash withdrawal and drawdown via LifeSight Spending).

LifeSight will meet the cost of a Helpdesk service, which includes a recommendation pack to outline which retirement option might be most appropriate for your pension savings. However, you will need to cover the cost of any subsequent conversations, including more complex advice or annuity broking costs. Any costs and full details of the service will be outlined to you by HUB Financial Solutions at the time.

You can call HUB’s free Helpdesk on 0345 863 0495.

Alternatively, you can find out about using an independent financial adviser on the Money Advise Service website. Additionally, the roadshows, guides, tools and websites mentioned above are available to help your retirement planning.

What happens if...?

Our FAQs explain what happens if you take family leave, leave AXA, are made redundant, are absent due to long-term sickness, want to leave the Mastertrust, get divorced or die.

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