Start with the budget you actually need
MoneyHelper recommends choosing a consistent budget scope. If you are preparing for yourself, identify which income and expenses your list includes. Living alone, being single and having financial responsibilities for other people need not describe the same situation.
Build the list from your own documents rather than halving a couple’s example budget. A bill might still be payable in full, might be shared with somebody else or might be unknown; record the actual arrangement instead of assuming a percentage.
Separate current spending from retirement assumptions
MoneyHelper’s retirement-cost guide asks you to consider regular and one-off costs. Keep an organising list of housing, household bills, travel, other living expenses and occasional spending, using a clear period for each figure.
Write down what would need to change for an estimate to apply. “Housing cost not checked” is more useful than treating it as zero. An assumed end to work travel does not establish the cost of other travel, and an old bill is not a future-price guarantee.
Beside the spending list, keep each pension’s own statement or estimate. Label a pot value, annual income estimate and State Pension forecast differently. This guide gives no target pot, income benchmark or retirement-readiness score.
Prepare a practical next step
Make a short list of missing statements, scheme dates and questions. You might choose to request one document or use the official Budget planner with records you keep securely. The planner is a separate MoneyHelper service, not an All Pensions account.
If someone helps you organise paperwork, ask the provider about its authorised access process. Do not share a password or assume that being a friend or relative grants access. Keep beneficiary instructions separate from any arrangement for help while you are alive.
The Passport holds short organising notes only; it does not store a trusted-contact appointment, beneficiary instruction or legal authority. Take decisions about individual pension choices, tax or legal arrangements to an appropriate professional or guidance service.
- Request one missing document.
- Keep unknown costs and unconfirmed pension dates visible.
- Check the provider’s secure process before sharing information.
Sources & review
- MoneyHelper: Budget planner and preparationChecked 2026-10-04
- MoneyHelper: Work out retirement costs and incomeChecked 2026-10-04
Next scheduled review: 2027-01-04. Provider details can change sooner. Use the official website for the current contact route.
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