Retiring early is an aspiration for many workers looking forward to greater freedom. If early retirement is something you’re dreaming about, a survey suggests financial planning could help you turn it into a reality and enjoy the next chapter of your life more. A Standard Life study found, on average, people receiving financial advice plan […]
High inflation means retirees could need to increase their budget by almost 20% to maintain the same lifestyle, research suggests. If you’re drawing an income from your pension, it’s vital you understand whether withdrawing more is sustainable. The UK experienced high inflation throughout much of 2022, and inflation remains above the Bank of England’s target […]
Retirement is a milestone that’s often greeted with celebration. But what do you need to do to be happy during your later years? Research has revealed that it’s experiences, rather than material items, that are important. A survey from Royal London found that 72% of those aged over 55 favoured experiences over material possessions. From […]
If you’re retiring in 2023, congratulations! It’s an exciting milestone that you’re no doubt looking forward to. Here are six practical steps to take now to make sure you can retire with confidence and be financially secure. 1. Set a retirement date One of the important first steps is deciding exactly when you want to […]
Getting the most out of retirement and reaching your goals requires planning. Not thinking about your post-work years until you reach that milestone can mean that a retirement that promised much, falls short. While you might daydream about giving up work, pinning down the details, from your lifestyle to your income, means you’re more likely […]
Since Pension Freedoms were introduced in 2015, retirees have had more choice when they access their pension. However, it also means you have more responsibility for generating an income later in life and it’s important to understand what your options are. Our latest guide explains the basics you need to know, including: Why it’s important […]
Who is your current pension provider and why did you choose them? Even when you’re making regular pension contributions, it’s not something you think about often. In many cases, your employer chooses your pension provider, and you stick with them, but there are reasons you may want to switch. Over the years, your pension is […]
If you’re going through a divorce, your pension and retirement are likely the last things on your mind. And yet the decisions you make during the divorce process can have a lifelong impact. Despite pensions often being one of the largest assets we have, you may overlook them when dividing assets. Just 12% of people […]
Saving into a pension and accessing it comes with a lot of challenges as you need to think about how much income you need throughout retirement. Research from the People’s Pension suggests that looking at the bigger picture is something many people are putting off, even as they near retirement age and start drawing an […]
Have you started preparing for retirement yet? If you’re nearing this milestone you may have contemplated whether your pension will be enough and how you’ll create an income. It’s often the financial side of retirement that people focus on. It’s understandable why. Retirement is a big change to your income. But the lifestyle and emotional […]
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