Managing Your Pension in the Lead Up to Retirement

I am approaching retirement and need help managing the investment of my pension


Managing Your Pension In The Lead Up To Retirement (60 second read)

The time when your pension is most at risk is the last few years before retirement and the first few years after retirement. Managing your investment post retirement is fundamentally different to managing it during your younger years because instead of contributing to the fund you are taking an income from the fund, so the mechanics involved are completely different and the implications of high volatility of returns are more severe. This is the time when a fall in value will have the most detrimental effect on your income in retirement. If you would like to understand this more fully please read this article.

There are many issues to consider, such as the stage of the economic cycle, your attitude to risk, your risk capacity and tolerance, your planned retirement date and what you intend to do with your pension when you reach retirement age. Ideally you should address these issues at least ten years prior to your planned retirement date.

Many pension savers, especially those in company schemes, are invested in Lifestyle funds. Lifestyling is a kind of one size fits all approach to investing which gradually moves the member’s investment out of higher risk assets like equities, into (supposedly) lower risk assets such as bonds, as the member gets closer to retirement age. While these can be suitable, like any automated process, sometimes they can be desperately unsuitable, as you can read about in this blog post.

Another issue which will be relevant to you is maximising your retirement lump sum. It is important that you plan in advance for this. Irish Life recently revealed that almost 35% of retirees from schemes administered by them last year could have made additional voluntary contributions to their pension which they would have obtained tax relief on and which they could have subsequently withdrawn tax free – a missed opportunity for lack of good advice at the right time.

If you are approaching retirement, already at the point of retirement or even past it and you’ve never obtained specialist advice we can help.

Contact us today on 01 546 1100 or book a no-obligation coffee with us here.


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The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.


Best Pension Advice is a trading name of Highfield Financial Planning, the most client focused financial services company in Ireland. We provide superior advice on Retirement Planning for all types of pension available in the Irish market. As Specialist Investment Advisers we can also help you to manage the investment of your pension to achieve your income objectives in retirement.

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