How to reduce the impact of inflation on retirement income

During periods of economic uncertainty, it’s advisable to reassess your retirement plan Living on a fixed income such as a pension during high inflation can be challenging. As costs rise, your monthly income remains the same, potentially causing your pension pot to deplete faster than anticipated and impacting your retirement standard.

How much will I need to live on in retirement?

Planning for your life after work to ensure a financially secure future Retirement planning is an important step to ensure a financially secure future. When calculating how much you’ll need to live on in retirement, there are various factors to consider. Everyone’s circumstances are different.

Millions may have to rethink their retirement plans

More than one in ten have mortgage debt in the final decade before they retire Two-thirds (67%) of Britons admit to having debt that is weighing them down, according to a recent study[1]. Additionally, nearly one in ten (9%) adults in the UK are unsure about the amount they owe in outstanding debts, rising to […]

Gap in knowledge and uptake of Power of Attorney

Protecting individuals and facilitating smoother decision-making processes Recent data highlights a concerning gap in knowledge and the uptake of Power of Attorney in the UK[1]. While 95% of adults know of its existence, only one in three truly understand how it is utilised in practice.

Do our later life dreams really become retirement reality? 

Taking the necessary steps towards a fulfilling retirement UK adults aged 50 and above were asked about their retirement dreams and whether they had turned out as planned. The survey revealed various insights into retirement hopes, realities and the importance of preparation[1]

Retirement challenges faced by women

Nearly half of women aged 50-65 plan to continue working in some capacity after reaching the State Pension age Years of gender-based earnings disparity have resulted in a significant pension savings gap between men and women, leaving many women in their 50s and 60s financially precarious. According to analysis, women are more than twice as […]

Key traits for successful wealth-building

Developing an investment strategy tailored to your goals  Committing to a financial plan is crucial for building wealth and achieving long-term financial goals. When you have a plan, you are more likely to stay focused on your objectives and take the necessary steps to reach them.

Preparing the next generation to engage with their finances

How to help with money management and financial literacy  Passing on the benefit of your experience to your children or grandchildren is crucial for their future success. However, financial planning can be complex, and even the most knowledgeable individuals may need help.

Key traits for successful wealth-building

Assessing your current and projected wealth, income and expenses Retirement planning is of utmost importance, regardless of your income or wealth. It ensures a steady income stream after retirement and provides financial security for you and your loved ones. 

Pension drawdown

Greater flexibility in accessing your pension funds Pension drawdown is a flexible way of taking income from your pension, introduced after the pension freedom rules in April 2015. Before that, the government limited how much income you could take from your pension unless you had other sources of income, and annuities were commonly used to […]