vivisor Insights
Retirement · 8 min read
A 10-year retirement planning checklist
The last ten years before retirement is when good planning has the biggest impact. Sequence the right decisions in the right order. Bring this checklist to your first meeting with a retirement specialist — it will save you both time.
10 years out (roughly age 55–58)
Request your PRSI contribution record from mywelfare.ie — check you're on track for the full State Pension.
Map every pension you've ever had (current job, old jobs, PRSAs) and request up-to-date benefit statements.
Agree a target retirement income with your partner — gross figure and what it buys you per month.
Maximise tax-relieved contributions — at 55+ the age band rises to 35% of earnings (40% at 60+).
Consolidate old pensions where it makes sense (lower charges, simpler admin, single investment strategy).
Review your investment risk — still appropriate for a 10-year horizon, or time to start de-risking?
5 years out (roughly age 60–63)
Get a written retirement plan with projected income under different retirement-age scenarios.
Decide ARF vs annuity vs a mix — and make sure the funds are in the right wrapper to support that choice.
Continue glide-path de-risking — reduce equity exposure gradually to protect against a bad year just before retirement.
Plan how you'll use the 25% tax-free lump sum (mortgage clearance, home upgrade, gifting, reserve fund).
Check mortgage payoff date vs retirement date; consider overpaying to be clear by retirement.
Review life cover and income protection — what's still needed once you stop working?
12 months out
Confirm drawdown strategy in writing with your advisor — and the tax position for year 1.
Open the bank accounts you'll draw retirement income into (current account + an emergency buffer).
Update your Will, Enduring Power of Attorney and pension death-benefit nominations.
Notify Revenue and update your tax credits for retirement.
Get a final State Pension forecast and apply for State Pension 6 months before your eligibility date.
Plan the first 12 months of retirement spending — including one-off costs (travel, car, home).
Common mistakes to avoid
Leaving pensions in default funds with high equity exposure right up to retirement day.
Taking the maximum lump sum without a plan for it.
Forgetting old occupational pensions from earlier jobs.
Underestimating how long retirement will last — plan for 25–30+ years, not 15.
Ignoring inflation — €40k of income today is not €40k of income in 20 years.
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For information purposes only. vivisor does not provide financial advice.