Should I take a phased approach to retirement?
For many retirement was once a landmark moment – a single day where your working commitments finally come to an end.
But many are choosing a more gradual approach instead, reducing their hours over a period of time to slowly transition into retirement.
So could this approach be right for you?
What a phased retirement looks like
- Taking a part-time job
- Reducing your hours at your existing job
- Taking on seasonal work
- Freelancing for clients
- Becoming a consultant
- Taking a lower paid role in a field you care deeply about
In short, you’re still active and earning money, but not necessarily working full-time hours.
Could a phased retirement be right for me?
A phased retirement can offer many lifestyle and financial benefits. For example:
A phased approach to retirement can also be good for your business or employer, as it lets you work alongside your successor for a set period. That can in turn ensure a smooth transition, so your replacement can hit the ground running.
Enjoy a phased retirement with Creative Pension Trust
If you want to gradually transition into retirement, we can help you.
You can access your Creative Pension Trust account in a range of ways after you turn 55. For example:
- Access your money flexibly and top up your income when needed, which may be helpful if you start working part-time
- Secure a lifetime income or leave it to grow while you carry on working, so you aren’t taxed on unnecessary income until you need it
Find out more in our Retirement Choices Guide.
Head to the Creative Pension Trust Member Portal to get started.