Retirement

Those who have retired or are nearing the milestone are consistently overlooking the risk of financial shocks when compared to other generations, a survey published in PensionsAge in December 2024 suggests. According to the report, 43% of over-50s had thought about financial shocks but not included the risks in their retirement plan. A further 32% haven’t considered risks at all. ...

The secret to saving more for your retirement could be regularly switching jobs, figures suggest. In fact, according to FTAdviser in November 2024, those who frequently take new career opportunities have more saved for retirement. For many workers, gone are the days of a job for life. Instead, employees are switching jobs more frequently than ever. Figures from 2024 collected ...

Purchasing an annuity could provide you with a regular income throughout retirement. And rising annuity rates could help your pension savings go further. An annuity is something you buy, often with the money saved in your pension, which then provides a guaranteed income. The annuity rate offered affects the income you’d receive and it can vary between providers. If you’re ...

What’s stopping you from retiring sooner? For many, it’s not just finances that are holding them back but their mindset too. If the excitement of retiring is also mixed with nerves, a financial plan could give you the confidence boost you need to take a step back from work. Finances may play a role in the hesitancy to retire for ...

According to research from Scottish Widows, more than three-quarters of retirees could be missing out on potential investment returns by accessing their pension before their retirement date. Understanding the implications of withdrawing money from your pension could help you to make a decision that’s right for you. Read on to find out some of the areas you might want to ...

2 in 5 UK retirees have retirement regrets, according to a Canada Life survey. If you’re saving towards your future, you could learn some valuable pension lessons and avoid repeating the same mistakes. Securing the retirement you want often means thinking about this milestone many years before you celebrate it. One of the key challenges is balancing your financial needs ...

As Generation X starts to retire, research has found that many don’t feel confident about their financial future. If you’re worried about how secure your life will be once you stop working, there may be some practical steps you could take. According to a survey from Just Group, 52% of Generation X say they are not confident that they will ...

Transitioning into retirement can present new challenges, not least, understanding how to sustainably start using your assets to create an income. As you move into the decumulation phase, you might worry about balancing your needs now with your long-term financial security, but a plan could give you more confidence. Managing the decumulation of assets is something more people will need ...

Retirement should be a time of relaxation and enjoying the fruits of your hard work. However, one of the most overlooked aspects of retirement planning is managing taxation effectively. Paying more tax than necessary can have a significant impact on your retirement income, affecting the quality of life you’ll enjoy in your retirement years. Ensuring you receive accurate, helpful, and ...

Some pension savers may have unwittingly exceeded a tax allowance and could now face a higher bill, figures suggest. According to HMRC data, the number of people exceeding the Annual Allowance increased by almost 20% in 2021/22 when compared to just a year earlier. The HMRC figures show more than 53,000 people contributed more to their pension than the Annual ...