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Budgeting

People approaching retirement are normally concerned about their ability to cope with a reduced income. Complete our BUDGET PLANNER and find out what your financial position is now and what it is likely to be in retirement.

 

IMPORTANT

You can use our planner for weekly/ monthly or annual calculations, BUT you must keep to the same period throughout.

 

TIPS.

If you are eligible for an occupational pension, request an estimate from your employer.

An estimate of your state retirement pension can be obtained by completing form BR19 available from Social Security Benefits Office or electronically. Estimates cannot be given if you are within 4 months of retirement age which is currently 60 for women, 65 for men.

CONFIDENTIALITY

The information you insert in this planner is:

(a) not stored on our system and (b) not stored on your computer.

To retain the information please print your copy.

Income

Before Retirement
self/ partner

 

After Retirement
self/ partner

Net salary

£

£   £ £
State pension(s) £ £   £ £
Occupational pension(s) £ £   £ £
Part-time work £ £   £ £
Interest on savings / Investments £ £   £ £
Annuities £ £   £ £
State Allowances /Benefits £ £   £ £
Other Income e.g. personal pension £ £   £ £
Totals £ £   £ £
           
Expenditure

Before Retirement
self/ partner

 

After Retirement
self/ partner

Income tax £ £   £ £
Mortgage/rent £ £   £ £
Council Tax £ £   £ £
Water services £ £   £ £
Pension schemes £ £   £ £
Loan repayments £ £   £ £
Household expenses £ £   £ £
Food (incl pet food) £ £   £ £
Rentals (TV, video etc) £ £   £ £
TV licence
(Free for over 75's)
£ £   £ £
Heating £ £   £ £
Gas £ £   £ £
Electricity £ £   £ £
Phone £ £   £ £
Life insurance £ £   £ £
Car insurance £ £   £ £
Home insurance £ £   £ £
Motoring £ £   £ £
Fares £ £   £ £
Entertainment £ £   £ £
Hobbies £ £   £ £
Subscriptions £ £   £ £
Holidays £ £   £ £
Personal £ £   £ £
Clothes £ £   £ £
Totals £ £   £ £

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