Category: Retirement
Retirement finances
COVID-19: third of retirees fearful due to negative impact
Six years on from pension freedoms, non-advised savers aged over 50 are facing a ticking time bomb at retirement, according to a new survey[1]. 66% of those saving into a defined contribution pension and 58% of those who have already retired have either no firm plans or no plans at all for their retirement finances. Continue reading “Retirement finances”
How much is the State Pension?
Understanding what you’ll receive and when
While many people have some savings for retirement, most of us will also depend on the State Pension to help cover our living costs. The full new State Pension payment is currently £175.20 a week (2020/21 tax year), but not everyone will receive the full amount and the age at which you’ll receive it varies. Continue reading “How much is the State Pension?”
Pension options
Planning your financial future, and how to get there
One thing retirement is not, is an age. Not any more anyway. Gone are the days of being told to stop working one day and pick up your State Pension the next. Today you have new pension freedoms to decide when and how you retire. Continue reading “Pension options”
Planning for a more relaxing retirement
Time to get back to dreaming about stopping work. Not dreading it.
Life changes when you retire – and so does how you spend your money. Whatever your plans, it’s important to keep on top of things and think about the lifestyle you want. It’s also worth noting the average life expectancy at age 65 years is 18.6 years for men and 21.0 years for women[1]. Continue reading “Planning for a more relaxing retirement”
‘New Age’ of self-employment
Changes in how people save, invest and plan for retirement
Self-employment plays a vital role towards the UK’s economy. In recent years the number of people who are self-employed has risen steadily. But one of the main drawbacks is that the self-employed do not have the advantage of an employer to help arrange pension provision. Continue reading “‘New Age’ of self-employment”
Planning for tomorrow, today
4 pension facts to help you create a happy and wealthy retirement
The future may seem far away. Regardless of your retirement goals, there are things you can do to increase your chances of success. It is important to look objectively at your plans and adapt them as your priorities change over the years and you go through different life events. Continue reading “Planning for tomorrow, today”
Can’t afford to retire
Getting your pension finances back on track
Do you know how much money you will need in retirement? What about how much you already have saved? Do you know what kind of income that might provide? Unfortunately the answer is ‘no’ for some people. Continue reading “Can’t afford to retire”
Will the over-50s become a lost generation?
Older individuals who lose their jobs are less likely to secure re-employment
Older workers are one group of people who are at risk of suffering serious and persistent consequences from the economic turmoil arising from the coronavirus (COVID-19) pandemic. In particular, older individuals who lose their jobs are less likely than younger workers to secure re-employment or to find a job on a similar wage to their previous earnings. Continue reading “Will the over-50s become a lost generation?”
‘Future self’
Boosting future retirement savings
Young people are faced with a unique set of challenges when it comes to saving for retirement. One of these is perception. They can often think of their ‘future self’ as a different person and so may prefer holding on to their income for more immediate priorities, like a first home deposit, rather than saving for someone they perceive as a stranger. Continue reading “‘Future self’”