When I’m gone

How a simple list can help your loved ones after your death

Although it may not feel like it, your family finances are probably more precarious than you think. It’s all well and good when the breadwinners are healthy and working, but if something unfortunate were to happen, the outlook for those around you could change instantly. Continue reading…

Protecting you and your family’s finances

Top reasons people gave for not taking out protection

There are many things to consider when looking to protect you and your family. It may not be the most exciting of subjects, but it answers one of our most basic desires – to keep safe all that we hold dear. Continue reading…

Averting a later-life financial crisis

More retirees drawing pensions without LPAs

People are generally living longer these days. Increasingly, more people are living well into their 80s and 90s – and some even longer. This may mean you have a long time to budget for. That’s why it is very important to consider all of your options carefully and think about what will matter to you in retirement. Continue reading…

Pensioner debt

Worrying increase on last year’s figure

The over-65s in the UK are expected to owe around £86 billion by the end of 2018, according to latest figures from the Centre for Economics and Business Research (CEBR) and More 2 Life. Total debt had increased on last year’s figure of £78 billion, as borrowing grew £35 billion in just three years. The research forecast that all types of secured and unsecured debt to retirees would exceed £142 billion by 2027. Continue reading…

‘Pretirement’

Half of pensioners plan to work past retirement age

The onwards march of ‘pretirement’ – where people scale back on work or slow their retirement plans down rather than giving up entirely – is continuing, according to new research[1]. Continue reading…

Taking early retirement

Making the most of the next chapter in life

With increasing numbers now working past traditional retirement ages[1], stopping work can seem a long way off, especially for younger people. However, new research[2] reveals that the early retirement dream lives on. Nearly two thirds (60%) of those stopping work this year are doing so before their expected State Pension age or company pension retirement date. Continue reading…

Pension paralysis

Saving not found to be a financial priority for UK workers

Worryingly, pension inertia is rife across the UK with many Britons failing to make saving for their old age a priority as they fall into a short-term saving trap. Saving for retirement is not looked upon as a priority until workers reach their 40s and 50s, according to new research involving a survey of 2,824 employees at medium and large private sector companies in the UK conducted by LifeSight, Willis Towers Watson’s UK DC master trust. Continue reading…

Protecting yourself from scams

Fraudsters are using sophisticated ways to part savers from their money

Pension and investment scams are on the increase in the UK. Everyday fraudsters are using sophisticated ways to part savers from their money, and the Internet and advances in digital communications mean these kinds of scams are getting more common and harder to identify. A lifetime’s savings can be lost in moments. Continue reading…

Retirement savings leap

But one in five young people still saving nothing

The number of under-30s saving enough for retirement has risen sharply by 9%[1]. As the success of auto enrolment continues, two in five UK workers (39%) aged 22–29 years old are now saving adequately for retirement, up from 30% last year. Despite this, more than one in five young people (21%) are still saving nothing for later life, with a further 20% saving seriously less than 12% of their income. Continue reading…

Generation game

Long-term saving could yield a £1m retirement pot for some millennials

The millennial generation don’t just spend their hard earned savings on smashed avocado and flat whites, but they do have a different attitude to money than older generations. In fact, some young people today or in future generations could accumulate a pension pot as high as £1 million[1] when they come to retire through a combination of higher earnings, a generous workplace pension and several decades of saving, according to new research. Continue reading…