Three quarters of UK employees say they won’t be able to retire by the age of 65
Britain is growing old, and not just proverbially. As the population is set to increase, the proportion of the population aged 85 and over is projected to double over the next 25 years[1], and the number of those working for longer rises with it. Recent figures[2] reveal that nearly three quarters of UK employees say they won’t be able to retire by the age of 65.
Significant gap between expectations and reality of what life in retirement will cost Generation Z
When most people envision their retirement, positive images start forming. We may picture spending our days lounging on the beach, travelling, practising our favourite hobbies, or having free time to spend with friends and taking the grandchildren on countless adventures.
Financial fraud nets millions for organised crime scammers
Fraudulent get-rich-quick schemes are netting millions for organised crime. But investment scams can be difficult to spot because they’re designed to look like genuine investments, with most scammers having a professional-looking website and documents.
Women say they will have £100,000 less in retirement than men
For women, the salary gap they face during their careers eventually turns into a retirement savings gap. While our country has come a long way on gender equality, the pay gap remains a prominent issue. It’s felt in many aspects of women’s lives, most significantly in retirement savings.
Nearly half a million quit their careers in the last two years alone
The decision to look after an elderly, ill or seriously disabled relative has been made by 2.6 million people according to new research by Carers UK[1]. The findings also reveal that nearly half a million (468,000) have quit their careers in the last two years alone – more than 600 people a day. This is a 12% increase since Carers UK and YouGov polled the public in 2013.
Inflation-busting increase to weekly payments on the horizon
In October this year, those receiving the State Pension are likely to find out that their weekly payments will increase by 4% from April 2020, subject to any last minute adjustments.
Barrier to employment and retention of older workers
Older workers are an invaluable component of the UK workforce, given their extensive industry knowledge and expertise that all colleagues – particularly younger generations – can benefit from.
More baby boomers plan to stay in their own home
A growing number of ageing baby boomers are saying, ‘No, thanks’ to downsizing, choosing instead to remain in the same house in which they raised their family and created lifelong memories.
Reaching the big 50 can be a financial wake-up call
Your 50s are a crunch time when saving for your retirement. If you’ve already set a retirement savings target but have been neglecting it, the reality is that now you can’t afford to delay your planning any further – and it’s time for a careful review.
Savers risk missing out on money from their final pension pot
Millions of savers risk missing out on money from their final pension pot if their provider doesn’t have their correct planned retirement date. The analysis[1] revealed that workplace pension savers in the UK could miss out on thousands of pounds in retirement because they haven’t updated their planned retirement date.
