Later life planning is not about slowing down. It is about making sure everything is in order.
The decisions you make between 40 and 60 shape everything that follows. Whether you are building towards retirement, protecting what you have built, or planning how to pass it on, Aetas Wealth brings the full picture together - in plain English, around what matters to you.
Most people in this age group are not where they think they are.
Research published in 2026 found that five million UK adults aged 40 to 54 are not on track for an adequate retirement. Many of them believe they are managing well. The gap between expectation and reality is often invisible until someone models it properly.
The median age at which people want to retire in the UK is 60. The median age at which they actually retire is 66. That six-year gap is not always a matter of insufficient savings - it is frequently a matter of insufficient planning.
The good news is that the 40s and 50s are still the highest-impact years for making a difference. With the right plan, the gap between where you are and where you want to be is almost always closeable.
Where we focus for people at this life stage.
The areas that matter most in the decade before retirement.
Pension review and consolidation
Most people in their 40s and 50s have accumulated several pension pots across different employers. Consolidating them into a single plan - where appropriate - reduces cost, simplifies management, and makes it far easier to build a coherent retirement income strategy.
Retirement income planning
When can you afford to retire? What income will you have and from which sources? How do drawdown, annuity, State Pension and other assets work together? Cash flow modelling gives you a clear, honest answer rather than a rule of thumb.
Finance Act 2026 - pension inheritance tax
From April 2027, unspent pension funds will be subject to inheritance tax at 40% for the first time. If you have a substantial pension, this changes how you should use it. We model the impact on your specific situation and help you plan around it before the deadline.
Tax efficiency and investment review
Using annual allowances fully, structuring investments correctly between ISA, pension and general investment account, and ensuring your portfolio reflects where you actually are in life rather than where you were ten years ago.
Protection and estate planning
Reviewing life cover, income protection and critical illness cover as your circumstances have changed. Ensuring your estate is structured correctly so that what you have built passes efficiently to the people you intend to benefit.
Business owner planning
If you own a business, your exit timeline and personal financial plan need to work together. Pension contributions, Business Relief, and the timing of a sale or succession all intersect with your retirement plans in ways that require joined-up advice.
The Finance Act 2026 changes everything about pensions.
Until now, keeping wealth inside a pension was one of the most effective estate planning strategies available. Pension funds sat outside your taxable estate, meaning they could pass to beneficiaries inheritance tax free. From 6 April 2027, that changes.
Unspent pension funds will be brought within the scope of inheritance tax at 40%. A pension pot of £500,000 that previously passed to your children intact could now face a tax charge of £200,000 or more, depending on your overall estate position.
For people in their 40s, 50s and 60s, this changes fundamental decisions: how much to hold in your pension versus other wrappers, how much to draw down each year, and how your pension interacts with your wider estate plan. The earlier you model this, the more options you have.
Aetas Wealth has been advising clients on the Finance Act 2026 pension inheritance tax changes since the legislation was announced. If you have not yet reviewed your position in light of these changes, a conversation with one of our advisers is the right starting point.
Questions we hear most often from this age group.
When should I start thinking seriously about retirement planning?
The 40s and 50s are the highest-impact decade for retirement planning. You typically have meaningful pension assets already built and enough time to make significant adjustments. Waiting until your 60s reduces your options considerably. Most people who take regulated advice in their late 40s or early 50s retire earlier and more comfortably than those who wait.
How does the Finance Act 2026 affect my pension?
From April 2027, unspent pension funds will be subject to inheritance tax at 40% for the first time. This fundamentally changes how pensions should be used as part of an estate plan. People in their 40s, 50s and 60s with significant pension assets need to review their planning in light of this change before April 2027.
Should I consolidate my pensions?
Often yes, but not always. Consolidating multiple pension pots simplifies planning, reduces costs, and makes it easier to manage your retirement income strategy. However, some older pensions carry guaranteed annuity rates or defined benefit promises that would be permanently lost on transfer. Always take regulated advice before consolidating.
How do I know if I am on track for the retirement I want?
Cash flow modelling is the most reliable way to answer this question. It projects your income, expenditure, assets and liabilities forward to show whether your current plan produces the outcome you want, and what adjustments would improve it. Aetas Wealth uses cash flow modelling as a core part of every mid-life financial planning engagement.
Read our companion guide: Mid-life financial planning: the decisions that define your retirement.
Find out where you actually stand.
A first conversation with Aetas Wealth costs nothing and commits you to nothing. We will look at your situation honestly, tell you what we think, and let you decide whether working together makes sense.
Book a free consultation Available via video call or in person. We work with clients across the UK.