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Retirement can change your life. More time on your hands and hopefully you'll want to start enjoying all the things you've worked hard for.

However this only works if you've planned your finances. Aviva can help at various stages throughout your life to ensure you prepare financially for retirement.

Whilst you are working it is advisable to make provisions for your pension and you are never too young to start.

Pensions

A pension scheme is a tax efficient way of investing in a range of funds until you reach retirement age. Selecting a range of funds gives your money the best chance of growing to give you a decent fund for your retirement.

Getting a good balance is crucial. Putting all your investments in to high risk funds gives you the potential for very good returns. However high risk funds also carry the highest chance of losing money. Low risk investments are comparatively safe and unlikely to go up and down excessively. But you could pay for this security in other ways, with only modest growth over the medium to long term.

You can, though, split your pensions between funds; this means that you can spread your money in a way that suits you.

For advice or further information about Aviva pension schemes visit your local branch or call 0845 744 6622 to book an appointment.

Annuities

Having saved hard to build your pension pot, at retirement age you need to use this money to secure an income during your retirement years. Most people purchase an annuity.

However, there are lots of choices still to make … conventional annuity, enhanced annuity, income drawdown, and these are just a few of the options.

Your annuity is for life. You can't cash it in, swap it or alter your options. The options you choose will affect the level of income you receive. Aviva can offer advice and guidance on which options are best for you.

For more information or advice visit your local branch or call 0845 744 6622 to book an appointment with an Aviva Financial Consultant.

Chelsea introduces its customers to Aviva Life Services UK Limited for investments, pensions and wealth management. Aviva Life Services UK Limited is authorised and regulated by the Financial Services Authority.

The advice you will receive will relate only to the products and services of Chelsea and Aviva