Category: Retirement
More than half (53%) of people in their 50s fear running out of money in retirement, as they have been the most likely to face job and income losses of any age group during the coronavirus (COVID-19) pandemic (23%), according to a new report[1].
Coronavirus alters retirement plans
One in eight older workers extend their planned retirement age
The coronavirus (COVID-19) crisis has disrupted many people’s working lives in ways we couldn’t have imagined. It’s been deeply worrying to see some people now planning to retire earlier than they intended – including many who have been on furlough.
Money’s too tight to mention
Looking to retire from work, not a paycheck?
When it comes to retirement insecurity, one concern dominates all others – the fear of running out of money during retirement. And with people living longer than ever before, it’s a very valid concern.
Plan the perfect retirement
Creating a comfortable, secure retirement takes care and forethought
If you’re 10 to 15 years from retirement, you’re probably starting to think more about how you’ll spend your life after work. You might be contemplating travelling more, dedicating more time to your passions or enjoying more free time with your family.
Pension tax relief
27% of people surveyed did not know how it worked
To encourage saving for retirement, the government pays tax relief on pension contributions. This means that your pension provider can claim tax back from HM Revenue & Customs (HMRC) and add that amount to each contribution you make.
Retirement clinic
Answers to the myths about your pension questions
If you are approaching retirement age, it’s important to know your pension is going to finance your plans.
Boost your pension savings
Planning to achieve your retirement goals sooner
Are you ‘mid or late career’ or planning to retire within ten years? If the answer’s ‘yes’, then you probably want to know the answers to these questions: Will I be able to retire when I want to? Will I run out of money? How can I guarantee the kind of retirement I want?
Peace of mind that you’re on the right track
How to plan for a confident retirement to live the lifestyle you want
Retirement might seem a long way off but the later you leave planning for it, the less chance you have of achieving the retirement you want. We all dream of how we’ll spend our retirement but that dream looks different for everyone. Continue reading “Peace of mind that you’re on the right track”
Live the life you want
How much pension income will you need for a comfortable retirement?
The purpose of a pension is to provide an income for you to live the life you want once you have retired. But, due to longer life expectancies, less generous schemes and lack of understanding around saving, a common problem is that some people don’t retire with enough to last them.
Generation Xers chronically under-saving
57% face financial difficulty in retirement years
According to The International Longevity Centre UK (ILCUK) report, a substantial proportion of Generation Xers (those born between 1965 and 1980) in the UK face financial difficulty in retirement, with one in three expected to face significant disadvantages.[1].