Get Retiready

The following video is about Retiready fly through and has a transcript (see below).

Benefits of having a score

Getting your Retiready score lets you see a complete picture of how prepared you are for the retirement you want. 

It lets you:
  • get an idea of how on track you are for retirement with a simple score;
  • find out what your retirement income may be based on the information you give us; and
  • find out what age you’ll be able to retire (to get the retirement income you want).

Benefits of using Retiready

  • Helps you set goals and make a plan to achieve them.
  • Allows you to bring your retirement savings together.
  • See all your retirement savings in one place, anytime.
  • Monitor your investments.
  • Lets you keep track of your retirement savings.

Your score explained

Your score offers a rounded view of your position. We work it out by looking at three things -

  • Finances: so we have a picture of your current retirement plans and hopes for retirement.
  • Awareness: this looks at how you think about the lifestyle you want in retirement, as well as your thoughts on how much it might cost.
  • Behaviour: tries to understand what you’ve already done about retirement and saving.

Score comparison

Score below 30

A score of less than 30

No-one said preparing for retirement was going to be easy but your score is worryingly low! We think you might have under-estimated how much you need to save to reach your retirement aspirations. Review your income goals - small changes now mean you might retire on more than you think.

Score between 30-49

A score between 30 and 49

Looks like you’re struggling to put aside as much money as you’d like. Your retirement aspirations are a little high - although you might have started a pension, you're not really paying in enough. You know the realities of retirement but you're more focused on the here and now. We can give you support to move forward and build a plan. 

Score between 50-69

A score between 50 and 69

Your score's OK - but are you happy with OK? More and more of us are starting to think about saving monthly into a pension and an ISA account to make sure we have the retirement we want. You're almost on track for this but need to do more - if you keep saving towards your retirement pot, you might exceed your expectations. 

Score of 70 and above

A score over 70

Well done. You’re right on track and have realistic expectations that match your retirement savings and the lifestyle you want. Whether you started early or have had to play catch-up, you’ve made sound decisions that have left you in an excellent position in the run-up to your retirement. 

Information needed to get a score

It’s basic stuff. All you’ll need are a few details about your current retirement plans – like when you plan to retire, the level of income you’d like in retirement, how much you have in savings now and any contributions you or your employer make.

Retiready pension

  • Makes saving for retirement easy with tax relief1 on contributions.
  • Easily choose a fund from our small, but perfectly formed range to match your risk level.
  • Get help deciding your risk level by answering a few simple questions
  • Clear charges so you know what you’re paying for.
  • See the value of your investments and manage them online, anytime.

The value of an investment can fall as well as rise and isn't guaranteed. The final value of your pension pot when you come to take benefits may be less than has been paid in.

1 This information is based on our understanding of current taxation law and HMRC practice, which may change. The value of any tax relief will depend on individual circumstances

Retiready ISA

  • A simple and flexible way to save for the future, with a stocks and shares ISA
  • Get help deciding your risk level by answering a few simple questions.
  • Funds tailored to different risk appetites.
  • Clear charges so you know what you’re paying for.
  • See your value and manage your account online, anytime.
  • No income tax or capital gains tax2 to pay on income or growth you receive from your ISA.

The value of a stocks and shares ISA can fall as well as rise, isn't guaranteed and you may get back less than you invest. Although our stocks and shares ISA has no fixed term, you should be prepared to hold your investment for at least five years, ideally longer.

2 The value of any tax benefits will depend on individual circumstances.