Delaying retirement

Delaying retirement

Pandemic forcing a widespread rethink of retirement plans The coronavirus (COVID-19) pandemic crisis has thrown some of the nation’s retirement plans up in the air. As a result, a number of people over 50 and in work are set to delay their retirement (15%) by an average of three years, or keep working indefinitely (26%) as a direct result of COVID-19, according to new research[1]. The pandemic is forcing a widespread rethink of retirement plans. …

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Rewritten retirement rules

Rewritten retirement rules

Looking to discover what you can do with your pension pot? In 2015, the retirement rules were rewritten. The rules, which came into effect from 6 April 2015, have changed the way people take money out of their pensions, with new freedoms and options available to anyone over the age of 55. Pension freedom tax rules allow members of defined contribution pension schemes to access their pension savings early, provided they have reached the required …

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No-desire to retire generation

No-desire to retire generation

Why working and retirement are no longer binary terms Giving up the 9-to-5 doesn’t necessarily mean stopping work. Many people are now considering staggered or flexible working. It can suit some individuals who have caring responsibilities or health issues, or those thinking about retiring in the next few years. When you picture yourself in your golden years, are you sitting on a beach, hitting the golf course or working behind a desk? For many people …

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Revolutionising the retirement landscape

Revolutionising the retirement landscape

Navigating complex decisions to shape your retirement finances Pension freedoms have put a greater onus on people to keep themselves informed of their options when it comes to accessing their pension money. However, little knowledge and understanding of the rules could mean some people risk making decisions that are not best for them. For people in their 40s and 50s, understanding retirement savings is especially critical. Pension freedoms now give savers full access to their …

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Age is just a number

What rising life expectancy could mean for you We know that age is just a number, and for different people it means different things. It’s also a phrase used by some people who oppose age restrictions. In the UK, 65 years of age has traditionally been taken as the marker for the start of older age, most likely because it was the official retirement age for men and the age at which they could draw …

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The big questions to ask before you retire

Are you on track to enjoy the retirement you want? If you’re among the many older UK workers who will say farewell to full-time work in the next five years, now’s a good time to make sure you’re truly prepared. Whether you’re viewing the next phase of life as retirement, semi-retirement or an unknown adventure, it’s essential that you obtain professional financial advice. From age 55, you have the flexibility to choose how you take some or …

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Life after work

Plan for the future you want Early retirement is no longer defined as the moment when you stop working forever. For many people, it’s simply the moment when you no longer have to work for money. But this also means being in a financial position to choose to keep working if you enjoy what you’re doing. Retiring at 55 is an attainable target if you start early and develop a sound financial plan. It’s worth …

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How do I plan for my retirement?

Self-employed business owners face unique challenges Saving for retirement can be more challenging when you are self-employed, as there is no one to organise a pension for you and no employer making contributions on your behalf. On top of that, self-employed workers often don’t have a regular income, so many will focus on setting aside money as a safety net if they cannot work. New research shows[1] that some self-employed workers are heading towards a …

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Bullish millennials

Putting money to work earlier allows more time for savings to grow Millennials are more bullish than any other generation about their retirement savings, a major new study has found[1]. But with time on their side, should they be doing more? Women in the UK are better prepared for the future than ever before, with 57% now saving enough for their retirement – the highest proportion recorded in 15 years. A recent report[1] shows that …

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Retirement matters

There’s a lot to look forward to In your 50s, it’s important to make retirement planning a priority if you haven’t done so already. At this age, retirement is no longer a distant concept, and time is short if your plans aren’t on track. Women in the UK are better prepared for the future than ever before, with 57% now saving enough for their retirement – the highest proportion recorded in 15 years. A recent …

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