Retirement: Will your money run out before you die?

Most people will have two types of pension: one from the state and one earned through employment


Britain's pension system has undergone a revolution in recent years, resulting in millions of people needing to make more decisions for themselves about how to invest and manage their money.

Most people will have two types of pension - one provided by the state and one privately earned through your employer.

See also: State pension age for women is rising

See also: Your questions about workplace pensions answered

If you retire on a full state pension and it started to be paid after April 2016 then you should receive roughly £8,000 per year.

There are three factors that determine whether or not your private pension will last long enough.

These are: the size of the savings pot, how frequently you make withdrawals and how long you live.

Take a look at the video above to find out more about how you can make the most of your money.

How we spend our pensions

How we spend our pensions