Today, with more Britons living longer and healthier lives, the concept of retirement is much different to what it was only one generation ago. For each retiree, retirement is different. Perhaps you’re looking forward to having more time to explore faraway places, or maybe you dream of simply waking up each day and doing whatever takes your fancy.

However you see your future, retirement is a time for you to do the things you’ve always wanted to do. After all, deciding when to retire will be one of the most important decisions facing all of us at some point.

It goes without saying that investing in a pension is an essential part of modern-day financial life. If you want to enjoy a comfortable retirement, then starting to save early and ensuring you keep putting money aside is vital. These are some tips that could help you increase the money you have available in retirement.

Do you know where all your pension pots are located? 
Locate pension pots that you may have forgotten about. The Pension Advisory Service and the Pension Tracing Service can help you to trace forgotten pension pots

Remember to take your State Pension into account

Time to consider topping up your pensions? 
Think about topping up your pension in the years leading up to your retirement. That little bit extra could make a difference

Remember, you might be eligible to top up your State Pension too. This could be particularly beneficial if you’re self-employed or a woman, because it’s possible your State Pension entitlement may be low

From age 55, you can draw your pension savings as and when you need it and still pay into your pension. You’ll continue to receive tax relief on your payments up to age 75, although taking benefits flexibly will limit how much you can put in

Have you considered retiring a little later than you’d originally planned?
Delaying your retirement might give your pension fund more chance to grow Remember, though, if your pension fund remains invested, the value could go down as well up, and you may not get back what you put in. If you defer your retirement, it’s also important to check whether this will affect any state benefits you’re entitled to

Working part-time for a while after you finish full-time work might enable you to delay drawing money from your State Pension or your pension, meaning your money may last longer when you do retire

Maybe you fancy trying something new, like setting up your own business. Becoming your own boss could be a good way to stay active and keep earning

A PENSION IS A LONG-TERM INVESTMENT. THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE.

PENSIONS ARE NOT NORMALLY ACCESSIBLE UNTIL AGE 55. YOUR PENSION INCOME COULD ALSO BE AFFECTED BY INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS. THE TAX IMPLICATIONS OF PENSION WITHDRAWALS WILL BE BASED ON YOUR INDIVIDUAL CIRCUMSTANCES, TAX LEGISLATION AND REGULATION, WHICH ARE SUBJECT TO CHANGE IN THE FUTURE.

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.