Early Retirement? It may soon be a thing of the past!

According to analysis by Aviva1, the number of people retiring before they reach age 65 is set to continue decreasing rapidly. The insurer calculates that by 2035 almost no one will be able to afford to retire early. Higher life expectancy, the demise of final salary pensions and a rising state pension age are contributing … Continue reading “Early Retirement? It may soon be a thing of the past!”

Don’t let jargon put you off saving for your retirement

One reason for the lack of pensions awareness could be the system’s perceived complexity. Just getting to grips with the financial jargon associated with pensions can be a hurdle for many people looking to plan for their retirement. If you’re feeling perplexed by pensions, here we explain a few commonly-used terms. DEFINED BENEFIT PENSION A … Continue reading “Don’t let jargon put you off saving for your retirement”

Keep up the good work – the prevalence of the part-time pensioner

We know demographics are changing. We’re living longer, quite alarmingly; the population of England is set to rise by around nine million by 20391, with almost two thirds of that increase occurring in the pension age bracket. Not so long ago, many people’s lives fell into three distinct stages – education, career and retirement. The … Continue reading “Keep up the good work – the prevalence of the part-time pensioner”

Plan today for the retirement you deserve

You may feel that retirement planning isn’t the most riveting topic, but the sooner you engage with the concept, the sooner you’ll be able to put plans in motion to secure your financial future. If you are disengaged from thinking about your retirement, you aren’t alone as a recent study1 reveals. In the UK, 45 … Continue reading “Plan today for the retirement you deserve”

How much do I need to save to retire at 55?

There’s no longer such a thing as ‘retirement age’ – you’re simply free to access most pensions from the age of 55. But what if you actually did want to retire at 55? We take a look at what you’d need to make that dream a reality. There’s an old joke: ‘Jumping from a plane … Continue reading “How much do I need to save to retire at 55?”

How your ex might still inherit your pension

Many people approaching retirement may be unwittingly naming an ex-spouse or ex-partner as their pension beneficiary upon their death. According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out. Over three quarters of a million people near retirement are at risk of passing their pension pot on to the … Continue reading “How your ex might still inherit your pension”

Cost of divorce following couples into retirement

People who divorce may face an ongoing financial hit from it throughout their retirement, according to new research by Prudential. Younger divorcees and women especially are making potentially very costly mistakes by under-valuing their pensions. The financial impact faced by divorcees in retirement works out at nearly £4,000 a year, research by Prudential has found. In … Continue reading “Cost of divorce following couples into retirement”

The race to deliver a pensions dashboard

For some time now the government has been promising an online ‘pensions dashboard’ that will let savers view and manage all their pension arrangements in one place. Meanwhile, private pension providers are competing to deliver a similar service to cover their own products. So who’ll win the battle of the dashboards – and what’s the prize for … Continue reading “The race to deliver a pensions dashboard”

Pension providers to warn over drawdown

If you access your pension via a drawdown scheme, your provider may soon recommend an ‘upper limit’ on the income you take. The new measures are intended to protect pensioners against using up their savings too fast, as many are still in the dark as to the underlying risks of drawdown schemes. Some of the … Continue reading “Pension providers to warn over drawdown”

UK Retirees increasingly reliant on the state pension

About 15 million people in the UK may be facing a bleak retirement according to a major new survey from the Financial Conduct Authority1.  It recently carried out research into the personal finances of just under 13,000 consumers in the UK. The Financial Lives survey found that 31% of UK adults don’t have private pension … Continue reading “UK Retirees increasingly reliant on the state pension”