Reducing the pension charges applied to your pension could make a significant difference to your pension savings over the years.
By combining your pension pots into one, they’re also easier to keep track of.
Rather than fully retiring you could reduce your hours or take on another part-time role. It would mean a steady income that wouldn't reduce pension savings you already have.
Working part-time could cover your essential living costs and your pension fund would still be there for emergencies and occasional treats.
Equity release allows you to use the cash that's tied up in your home without moving which can be helpful but it's not suitable to everyone.
Releasing equity can be expensive and inflexible if your circumstances change. It could also affect your entitlement to state or local authority benefits.
You can stay in your home for the rest of your life unless you have to move into long-term care. When you pass away, any equity of your home that you haven’t released can pass on to your dependents as inheritance once the property is sold.