Retirement planning made easy

This free course on money and retirement planning has been produced by The Open University in collaboration with Legal & General.Planning your retirement is probably the most important aspect of financial planning for you to consider. Making the right decisions and building a sound financial plan can help to ensure that you have the quality of life in retirement that you aspire to.Watch the following video in which Emma Byron, Managing Director of Legal & General Retirement Solutions, talks about some of the things you need to consider when planning your retirement and how this course can help you.Transcript68This course sets out the series of stepping-stones to a financially secure retirement. As Emma explains, most people approaching retirement now have more options both about when to retire and about how they use the pension 'pots' they have built up. This course examines these options to help you decide with confidence which are right for you.You'll look at what you can do if your pension is not sufficient to cover your spending needs in retirement, and learn about the impact of divorce and bereavement on pensions and household finances.You will explore a mixture of reading, short videos and activities, and there's a quiz at the end for you to check your understanding.Please note: the content of this course relates to the UK, although there are some parts that generally apply when planning for retirement, such as forecasting your expected spending and identifying all the sources of pension income.

• Introduction
• Learning outcomes
• 1 Taking stock of your retirement plans
• 1 Taking stock of your retirement plans
• 2 How much money will you need in retirement?
• 2 How much money will you need in retirement?
• 2.1 Your budget
• 3 Your state pension
• 3 Your state pension
• 4 Taking stock of your pension plans
• 4 Taking stock of your pension plans
• 5 Your pension options
• 5 Your pension options
• 5.1 Defined benefit pension
• 5.2 Defined contribution pension
• 5.3 Taking financial advice
• 5.4 Understanding your pension options
• 6 Your pension income: before and after tax
• 6 Your pension income: before and after tax
• 7 Dealing with a shortfall
• 7 Dealing with a shortfall
• 8 Divorce and separation: The impact on pensions
• 8 Divorce and separation: The impact on pensions
• 9 Bereavement and pensions
• 9 Bereavement and pensions
• 10 Preparing for a long retirement
• 10 Preparing for a long retirement
• 11 End-of-course quiz
• 11 End-of-course quiz
• 12 Course round-up
• 12 Course round-up
• Further guidance and helpful links
• Glossary
• References
• Acknowledgements