Make sure your pension savings don’t get left behind
The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. Even if you have not had that many jobs, you may still have a number of different pensions to keep track of.
Don’t lose your life savings or be persuaded to invest in high-risk schemes
Don’t let scammers enjoy your hard-earned pension proceeds. Anyone can be the victim of a pension scam, no matter how savvy they think they are. It’s important that everyone can spot the warning signs.
Looking after your lifestyle during a time of uncertainty
Nobody wants to worry about how they’ll pay the bills if they become sick or injured and can’t work. But illness or injury can strike at any time and can lead to serious financial trouble. The latest government figures report the dramatic increase in the likelihood of long-term sickness absence when we age, leading to an employment absence of four weeks of more.
The number of people qualifying for the full new State Pension following its introduction in April 2016 reveal almost two in five pensioners (365,290 people, or 38% of claimants) receive less than £150 a week, while a further 62% receive more than £150 a week – of these, 282,447 are receiving a new State Pension.
How much should you try to save to have a comfortable retirement?
The number of people saving enough for a comfortable retirement has hit its highest ever level, with almost three in five Britons (59%) now saving adequately for the future. This is a significant improvement from the 55% proportion recorded 12 months ago, suggesting this April’s auto-enrolment step-up had an immediate positive impact on saving habits.
Almost half of UK employees expect to work beyond the age of 65
When you picture yourself in your golden years, are you sitting on a beach, hitting the golf course, or working behind a desk? Not ready to give up working and retire? For those who find adjusting to retirement difficult, the transition can be made smoother by working. For many, working provides more than a salary. It provides happiness and purpose, and staying in the working world can provide many lifestyle benefits, in addition to financial gains.
Those dearest to us, and those financially dependent upon us
If something should happen to you, the last thing you want is for you or your family to be worrying about money. One of the most important aspects of your financial planning should be to ensure that you’ve made provision for your family and any dependants in the event of a serious illness, injury or untimely death.