Why being over 40 is the new mid-20s

financial planning for retirement

Healthier lifestyles and feeling happier about financial planning for retirement An increasing number of middle-aged Britons are getting healthier as they exercise more and eat better than they did when they were younger. Over-40s are turning to healthier lifestyles, with more than half rating themselves as more health-conscious than they were in their mid-20s, according […]

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Are you sleepwalking into retirement poverty?

retirement knowledge

Lack of pension knowledge among UK adults The UK’s middle-aged workers could be sleepwalking into retirement poverty. Four in ten people aged between 40 and 65 cannot accurately estimate their total pension savings for retirement. Just over a third of 60 to 65-year-olds who took part in a questionnaire by the JLT Employee Benefits research […]

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‘Miss List’

retirement planning cotswolds

With retirement in your sights, what do you think you’ll miss? Spending time with family, easily having a shower or bath and driving a car are the top day-to-day moments that most people would miss if they could no longer do them. However, seven in ten (69%) people – over 36 million[1] people – fail […]

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7 pension tips for nurturing your nest egg in 2018

financial goals

Helping you realise your financial goals We’ve now entered a new age of retirement planning with the introduction of pension freedoms. Your retirement is likely to be the most important time in your life you’ll even plan for – you could be retired for 20 years or more. Thinking about pensions sooner rather than later […]

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Planning for your retirement

retirement in the Cotswolds

Getting ready to slow things down One of the critical aspects of retirement planning is how you structure your financial affairs to make sure you have sufficient money if and when you stop working. Making sure you have enough money in retirement to enable you to spend your time the way you want to, doing those […]

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Gender income gap

gender wage differences

Minimising the impact on your retirement income The gap between women’s and men’s annual average expected retirement incomes in 2017 has grown by £1,000 in the last year, according to new research[1]. Future financial plans The unique annual research has, over the last ten years, tracked the future financial plans and aspirations of people planning […]

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Retirement taxation

what tax you have to pay in retirement

Understanding the bottom line – tax in retirement Retired households handed over an average of £7,400 each in tax last year – the equivalent of nearly 30% of their annual income, according to analysis of newly released data[1] by Prudential. The total annual tax bill for the UK’s 7.1 million retired households was £52.7 billion […]

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Working 9 to 5

retirement age

Almost three quarters of employees expect to work beyond the traditional retirement age The proportion of UK employees who say they will work beyond the age of 65 is at an all-time high. The findings from Canada Life identified that almost three quarters (73%) of employees expect to work beyond the traditional retirement age, up […]

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Retirement choices

retirement choices

How much time do you spend planning for retirement? The 2015 pension freedoms gave us greater flexibility over our retirement options, but the reforms have also made retirement choices much more complex. This means we need to start thinking about our retirement earlier. However, half (50%) of respondents aged 45–54 to a LV= consumer survey[1] […]

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Pension time bomb

UK PENSIONS

Planning to prevent the financial equivalent of climate change Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income. The World Economic Forum (WEF) has issued a warning that calls on the Government to impose faster pension-age rises as it earmarks […]

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Pension booster

pension advice

Setting goals for retirement The Set the Right Goals study from Zurich UK found that those who set specific goals for when they are aged 65 or over are more likely to save, putting aside approximately 7% of their salary into their pension compared to 5% for those without. The study combined research from YouGov […]

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Millions change retirement plans post–EU vote

retirement plans

Turbulence in the economy has left many feeling confused The UK’s decision to leave the EU has left over two million[1] people planning to change their retirement plans. It’s undoubtedly a thought-provoking time for many approaching retirement and even more difficult for retirees to know what is right for them. It’s essential you have access […]

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Gender savings gap widens

save for retirement

Report findings suggest this trend is set to continue Half of women (52%) are now saving adequately for their retirement compared to 60% of men, according to the latest Scottish Widows ‘Women & Retirement’ Report. But while this maintains the record high levels achieved in 2015, the gap between men and women has widened since […]

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How financially prepared are you for your retirement?

preparing for retirement

Men narrow the gap on women when it comes to life expectancy Thanks to healthier lifestyles and advances in medicine, people are living longer lives, but many individuals may not feel financially prepared for their retirement. When it comes to setting your investment goals or strategy for your retirement, there are two main options. If […]

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Getting ready for life beyond work

saving for retirement

Three-year growth in adequate retirement saving steadies Nobody knows quite what the future holds. Changing life plans and priorities will mean we encounter varying income needs and goals throughout our life, and when saving for retirement certain innate behavioural traits will influence our decision-making. Savings levels in the UK are showing signs of steadying at […]

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Pensioners financially ‘reliant on others’

pension advice

New research outlines typical financial situations A small number of pensioners are relying on loved ones to help them financially during retirement, and those approaching retirement seem to be in an even worse situation. Yet equally worrying is that people are also far more likely to take financial advice about retirement from friends than from […]

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