Almost one in five (16%) of Britons had accessed funds from their pension savings without understanding the rules before doing so, according to a new report.
Half (49%) of workers in the UK plan to work beyond State Pension age, with the average expected retirement age of 72.
Too many Financial Planners are relying on averages for their retirement income planning process, according to DFM Hymans Robertson Investment Services.
Increasing numbers of over-50s are turning to self-employment to help boost their retirement savings, according to new figures.
Britons have lost out on £1.13bn of tax relief in the five years to 2020/21, according to Hargreaves Lansdown.
Almost half of peopled aged over 50 do not have a detailed retirement plan while only 16% of UK adults are ‘totally confident’ they have enough money to retire in comfort, according to a new UK Retirement Confidence Index.
Half (49%) of current retirees entered retirement without any clear financial plan, according to a new report.
Retirees are set to receive a 8.5% increase to their State Pension from April next year as CPI inflation held steady at 6.7% for the year ending September.
New challenges have been highlighted for retirement planning following the publication of ONS statistics today revealing that the number of centenarians living in England and Wales in 2021 climbed to its highest number recorded.
Government-funded body the Money and Pensions Service (MAPS) is to combine its pensions services under a new Retirement Planning Hub.