How to find out if your pension savings are on track

  • Find out what your projected retirement income might be
  • Improve your likelihood of getting what you want
  • Build your own personalised financial plan using the Creative Pension Trust Member Portal
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Applies to all our plans

Having a plan can make all the difference

Your workplace pension is a long-term savings plan designed to give you a pot of money that you can use to top up your income when you retire or begin to reduce your hours of work in later life.

How much you get is determined by how much you and your employer pay in and any investment growth on what you have saved, less any charges. Although there are legal minimums that you and your employer must pay in, you can choose to pay in more.

How much extra you choose to pay in is up to you, but a good place to start is to picture what life might look like for you in retirement based on what you’re paying in today and any other sources of future income you might have.

How to use the retirement modeller

You can access the Retirement Modeller tool via the Creative Pension Trust Member Portal. No matter how far off your retirement may be, building your own financial plan for retirement can give you a really good idea of whether you are saving enough for the kind of lifestyle you’d want when you stop working.

We’ll ask you a few questions about you, your pension savings, investments and incomes you might receive from other sources. This helps build a picture of what that might give you further down the road. We can then use this to project how long your pension pot might last and what you might get from it.

If this doesn’t meet your expectations, we can show you different ways you can go about fixing it. This could mean increasing your pension contributions so you save more over time, or choosing to retire a little later so your savings have longer to grow.

How to do it?

Once you login, look for the Retirement Modeller section in the navigation menu and follow the instructions from there. There are 7 easy steps to follow:

  1. About you
  2. What you’d like in retirement
  3. What you have towards your retirement today
  4. How long your retirement could last, based on your health
  5. We’ll then project your retirement income and compare to what you’d like to have
  6. We will then test your plan against different scenarios so you can adjust your plan accordingly
  7. Final checks to ensure you are happy with your plan and any changes you may want to make towards saving enough for the future.

You can save and return at any time so, if anything changes in your personal or financial circumstances, you can update your financial plan in minutes and see what that means for you.

It’s never too early check if you’re on track – your pension is a long-term savings plan designed to grow your money over time. The earlier you make a plan you can afford to stick to, the more likely you’ll end up with the pension pot you need.

Log in to the Creative Pension Trust Member Portal to get started.

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