Media Comment: Citizens Advice report on pensions and long term care

Wednesday 24th August 2016

Speaking about research from Citizen’s Advice on people failing to plan for long term care, Jackie Spencer, Retirement Expert for the Money Advice Service, said:

“We welcome this research from Citizen’s Advice and the attention it draws to the important issue of people failing to plan for the possibility that they may need long term care in the future. At the start of your retirement, it can be nearly impossible to predict whether or not you’ll need care in later life. However, it’s important to bear in mind that this is a possibility and to manage your pensions pots accordingly. Withdrawing too much from your pension too early can mean that you lack the funds needed for your retirement, potentially placing a great deal ensure that you’ve planned adequately for your retirement. The Money Advice Service has information on how to make your money to last in retirement and a retirement income options tool to allow you to learn about your retirement options, compare different income options and get guidance on your next steps.