Planning for your retirement can be a daunting – and often confusing – experience. With people living longer than ever, pension pots now need to last for an average of around 40 years. It’s never been so important to have a strategy in place to allow you to live out your later years in comfort, safe in the knowledge that you can maintain your financial independence.

Whatever your stage in life, Sanlam can help you plan for your retirement. We’ll guide you through the range of investment strategies appropriate for your situation and aspirations. Our technical expertise can help with consolidation projects if your pension arrangements are more complicated. In addition, we can help you navigate double-taxation agreements and resolve disclosure issues across multiple jurisdictions.

When you’re approaching retirement, our wealth planners will help you explore the options for taking benefits from your investment fund along with the tax implications. We’ll find the solution that best meets your needs and circumstances – from buying an annuity or fixed protection policy to drawing down capital, writing a scheme pension or initiating a small administered scheme transfer.

Setting your retirement goals

Careful consideration of the quality of life you’re expecting when you stop working as well as your financial goals form a vital part of retirement planning. Whatever your aim – whether it’s having enough money to pay for a regular family holiday, helping your grandchildren buy their first home or contributing towards wedding costs – our wealth planners can help.

In addition, we can also help you consider how your circumstances may change in the years ahead. For example, you may need to factor in the potential costs of providing care in later life as well as how much you’d like to leave to your loved ones.  

Topping up your pension

Topping up your pension is one of the best ways to improve your financial security in retirement. Whether you’re planning to contribute to a final salary scheme, self-invested personal pension (SIPP) or stakeholder or personal plan, our wealth planners can guide you through the process. 

Your pension can also be combined with other savings vehicles, such as ISAs, and assets, such as property, to maximise your funds for retirement. Whether you’ll be boosting your contributions on a regular basis or have a lump sum to invest, we’ll provide you with all the information you need to make the best decision for your circumstances. 

Retiring at a gradual pace

There is no set retirement age, and you can carry on working for as long as you like. At the moment you can access your pension from the age of 55, but many people choose to retire gradually, continuing to work a few days a week until they are ready to stop working completely. Our wealth planners will help you understand the tax implications of earning and drawing from your pension, and whether your current pension plans will allow you to do so.

Understanding pension tax implications

The rules and regulations surrounding pensions are continuously changing and can be complex, but our wealth planners can help you understand your tax obligations. It’s important to note that when you retire, you will still be liable to pay income tax on all pension income, including the State Pension, if it exceeds your Personal Allowance. A Lifetime Allowance also applies to pension savings, which is a limit on the amount of money you can withdraw from your pension schemes without triggering an extra tax charge.  

Inheritance tax (IHT) can have a significant impact on your estate, but it is possible to reduce your liabilities by putting a carefully considered plan in place. Working in partnership with your lawyer, our wealth planners and investment managers can recommend ways to structure your assets to protect your wealth for many years to come.

Working together to maximise your income

We work with individuals and couples to ensure you make the most of your time once you’ve retired. Our wealth planners can advise you on the best ways to use your Personal Allowance as an individual or couple to maximise your pension income.

Are you prepared for retirement?

It’s never too early to start thinking about your retirement, and it’s important to have a plan in place. With our savings calculator, you can find out whether you’re on track to have the financial freedom you want in later life. If you’re falling short, you may need to contribute more to your pension pot or rethink your investment strategy to make sure you have the retirement you deserve.

Visit our What’s your number? page to find out how proper financial planning can help you pay for the things that matter most to you.


The process of retiring can be full of mixed emotions, but our financial planners are here to alleviate any financial stress and help you achieve the retirement that you want.

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The value of investments and any income from them can fall and you may get back less than you invested.