Whilst most people long to reach retirement age, many of our clients express no real desire to retire or to pay into a pension.

They often have jobs that love or businesses that they have started and lovingly nurtured and grown.

If you’ve never wanted to leave your job or business, why would you need a pension? What’s the point?

Well, things change and you need a Plan B. Just in case.

Here are seven reasons you need a pension even if today you’ve no wish to retire:

1. We all age, some quicker than others but we all age eventually. We may lose the physical or mental ability to continue working.
2. We may suffer serious ill-health.
3. Your job may become obsolete. The world is always changing and there is no guarantee that your job won’t become obsolete, or at least outsourced.
4. Your work environment might change. People come and go. Businesses get taken over. The workplace you currently love might not be as enjoyable in the future.
5. Businesses evolve. It’s great to be starting and building a business. But many business owners I speak to acknowledge that, as the business matures, a lot of the fun goes out of it. Eventually dealing with staff, suppliers, and even customers may become a chore.
6. Businesses fail! Even great businesses can get caught out by change. Remember that Marconi, Woolworths, BHS, Rover and Blockbuster were all great businesses at one time.
7. Even if we love our job or business, none of us can be 100% certain that one of these things won’t happen to us.

It’s that potential for things to change that’s the reason all of us should have a pension. It’s an extremely tax-efficient way of having an escape plan, even if we don’t ever envisage needing to use it.

And, if things do change, you’ll be so glad that you have your pension to fall back on. Your own Plan B as it were.

But what if you’re right and you never retire?

Well, in that case, you’ve got a pension fund you can leave to your loved ones or charity. That’s hardly the end of the world, is it?