Insight into the hopes, fears and aspirations of people approaching and in retirement
People aged between 55 and 64 are now less confident about their retirement than they were a year ago, with over-55s most likely to be worried about rising prices.
Meeting the financial demands you may face in later life
The significant increase in property prices in recent years has likely shifted many people’s expectations of the role property wealth will eventually play in supporting their retirement. With people spending longer in retirement, one of the challenges that many need to overcome is how to fund it and how to meet the financial demands they may face in later life, such as the cost of long-term care.
It’s never too late to think about saving for retirement
How much do you think you’ll need to fund your retirement? Of course, the answer to that question will depend on what you want to do when you stop work. Worryingly, almost half of non-retirees (46%) are unable to identify how much they believe retirees receive annually from their State Pension, according to a survey[1].
Having a good idea of the lifestyle you want is key
People planning for retirement should think hard about what they want to do when they eventually stop work. It is helpful to have a good idea of the lifestyle you want, how much it will cost and how you are going to pay for it.
State Pension is still the bedrock of many pensioners’ retirement income
The earnings benchmark of the State Pension triple lock has been temporarily set aside for this year. The Department for Work and Pensions (DWP) confirmed on 7 September 2021 that the State Pension triple lock rule has not been applied for the current 2022/23 financial year over concerns of the potential costs involved.
