Step 3: Getting there

You’re 10 years or less from retiring or taking your money. You are starting to think about what your life will look like in the future. There are a few key things you should think about now to make sure your plans are on track: 

• When you intend to take your money and how long your savings for retirement need to last
• How much you have in your retirement savings account, and whether you need to make additional contributions to ensure you’ll have enough
• How you want to receive your retirement savings
• Whether your investment choices are right for how you want to take your money
• Check when you can start receiving the State Pension, how much you will receive and consider whether you wish to pay any additional contributions to receive your full State Pension entitlement. Get an estimate of your State PensionOpens in new tab

You should take the time to carefully review the options available to you, so you’ve got time to make adjustments if you need to.

Remember it’s important you set a realistic target retirement age if you invest in the Tesco Lifestyle Investment Options, as your investments will be set to target that retirement age.

If your target retirement age is not up to date, the investments might not be appropriate and the information that we’ll send to you may also be less accurate.

You can change your target retirement age at any time, through Manage Your Account or by calling 0345 070 0090Opens in new tab. Remember, current colleagues can access Manage Your AccountOpens in new tab without having to log in, through Our TescoOpens in new tab.

Watch the video below for information about what options are available at retirement and where to get more details about them.

Video transcriptOpens in new tab