INTRODUCTION

“Retirement Planning Made Easy” is a beginner-level (Level 1) course offered by ICTC Ireland. It guides learners through the critical steps of building a sound financial plan for retirement, giving you confidence in decisions about when to retire, how to use your pension pots, and how to handle life’s curveballs like bereavement or divorce.

The course blends reading, short videos, interactive activities, and quizzes—designed to help you estimate your needs, understand your options, and take control of your retirement plans. It’s freely accessible, and you can earn a Statement of Participation upon completion

MODULE OVERVIEW

INTRODUCTION & KEY STEPS TO RETIREMENT
Raises the curtain on the big questions: What lifestyle do you want? How much have you saved? Will you keep working? How might later-life costs or caregiving factor in? It encourages early planning as the clearest path to a secure retirement..

TAKING STOCK OF YOUR RETIREMENT PLANS
Pushes you to be honest and realistic. What’s your essential versus discretionary spending? Pension income, state pension, ISAs or other investments—match your assets to your lifestyle vision. Debt? Use pension cash wisely. It’s about realistic forecasts, not wishful thinking.

HOW MUCH MONEY WILL YOU NEED? (INCLUDING BUDGET GRID)
Teaches you to forecast spending using a budget spreadsheet that separates “essential” (food, bills) from “non-essential” costs (movies, streaming). Overestimate to under commit. Account for debt repayments—you might clear those with a tax-free lump sum.

UNDERSTANDING YOUR STATE PENSION
Breaks down how to check your entitlement and when it kicks in—because knowing your baseline income is foundational.

TAKING STOCK OF YOUR PRIVATE PENSIONS
Encourages gathering all your pension pots—workplace and personal—to see the full picture. It’s discovery time for your hidden retirement treasures (or not-so-hidden).

YOUR PENSION OPTIONS (DEFINED BENEFIT VS DEFINED CONTRIBUTION)
Defined benefit pension? Often generous, lifelong income tied to your final or average pay. You can take a 25% lump sum—but transferring it usually means fewer perks—so financial advice is a must.

PENSION INCOME: BEFORE AND AFTER TAX
Helps you understand how drawing income and taxation interact—you want to know what lands in your pocket, net of tax.

DEALING WITH A SHORTFALL
When income doesn’t match spending, this module guides tough but practical decisions: cut back non-essentials, clear debt with lump sums, work longer part-time, or tap into savings. It also covers housing equity options like downsizing or lifetime mortgages—but with a line to financial advice, because messing with your home without caution is a misstep.

DIVORCE, SEPARATION & BEREAVEMENT: IMPACT ON PENSIONS
Offers clarity on how life changes—partner loss or separation—can reshape pension outcomes. Understanding these shifts helps you recalculate and stay resilient.

PREPARING FOR A LONG RETIREMENT
Encourages planning beyond the first few years—because longevity means you’re playing a long game.

END-OF-COURSE QUIZ & COURSE ROUND-UP
A light check on your new wisdom, followed by a recap: assess spending, tally state/private pension income, decide lump-sum vs income mix, identify gaps, and anticipate life events—plus beware pension scams. It’s designed to leave you prepared, not just informed.