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.
See also: State pension age for women is rising
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.