pension book
February 15, 2026

5.3 Final Checklist and Resources

Wrap-up chapter offering a comprehensive checklist to review your pension and retirement planning, plus useful tools and next steps.

5.3 Final Checklist and Resources

You’ve learned how pensions work, how to save and withdraw tax-efficiently, and how to plan for life’s uncertainties. Now it’s time to consolidate that knowledge with a practical checklist and helpful resources for your next steps.

Your Retirement Planning Checklist

T5.3.1 – Planning Checklist
Checklist AreaKey Checks
Goals & LifestyleRetirement age, income needs, legacy planning
Pension SavingsScheme types, contributions, allowances
Tax PlanningTax relief, drawdown tax, ISA integration
Income StrategyWithdrawal plans, sustainable income, annuity/drawdown balance
Estate PlanningNominations, Wills, IHT awareness
Review & FlexibilityAnnual reviews, cash buffer, scenario planning

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Use this checklist to review your readiness. Each section links back to earlier chapters:

Goals and Lifestyle

  • I’ve thought about when and how I want to retire
  • I’ve estimated how much income I’ll need (essentials + extras)
  • I’ve considered the kind of legacy I want to leave

Pension Savings and Contributions

  • I know which pension schemes I’m in (DC, DB, State)
  • I’m making contributions and understand the annual allowance
  • I’ve checked whether I’m affected by the MPAA or tapered allowance

Tax Planning

  • I understand how pension tax relief works
  • I’ve considered how to blend pensions and ISAs for flexibility
  • I know how tax applies to withdrawals after age 55

Drawing Income

  • I’ve reviewed my drawdown and annuity options
  • I know how to withdraw sustainably and minimise tax
  • I’ve planned how my income will evolve as I age

‍‍‍Estate Planning

  • My pension nominations are up to date
  • I understand the IHT changes coming in 2027
  • I’ve made or reviewed my Will and Power of Attorney

Flexibility and Review

  • I keep 1–2 years’ spending in cash for resilience
  • I’ve built flexibility into my plan (income layers, scenario plans)
  • I review my plan at least once a year or after life changes

Further Resources

Here are some helpful resources for UK pension planning:

Resource or Tool

T5.3.2 – Further Resources
Resource or ToolWhat It Does
State Pension ForecastCheck how much State Pension you’ll get and when
HMRC Pension AllowancesFull guidance on contribution limits and tax
MoneyHelper Pensions GuidanceFree government-backed support and advice
Financial Conduct Authority (FCA)Find regulated financial advisers and understand your rights
Unbiased.co.ukSearch for independent financial advisers in your area
Consider working with a regulated financial planner if your situation is complex — especially around tax, inheritance, or managing a large pension pot.

Final Words: Stay Engaged, Stay Flexible

Retirement planning isn’t a one-off project. It’s a lifelong process — especially now that pensions give you so much freedom over how and when to access your savings.

This guide has given you:

  • The technical knowledge to make informed choices
  • The strategies to withdraw and preserve your money
  • The confidence to plan for a flexible, fulfilling retirement
Keep reviewing, stay curious, and use your pension to live the life you’ve worked hard for.

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