Whatever stage of life you’ve reached and whatever plans you may have for the future, you want your money to earn the best return possible without taking undue risk. That’s why it’s important to invest in a way that’s right for you and that will meet your goals.
How this fits into overall pensions received
You don’t automatically receive your state pension, you have to claim it. You have the option to either claim your state pension or delay it by deferring claiming your pension income that you are due.
Who is well placed to cope with life events?
Part of being financially capable is being financially resilient. This means that we are faced with the challenge of working out how much to save to maintain our standard of living when we have stopped earning.
Pandemic has seen bank balances increase and debts such as credit card balances reduce
Figures for the entire economy conceal a great deal of variation in terms of the impact COVID-19 has had on household finances. Whilst millions of people have undoubtedly suffered considerably, a significant minority have found their financial position strengthened, with income largely unchanged and spending reduced.