One in four retirees returning to work driven by financial struggles

In 2015 Pension Freedoms were introduced to give retirees far more flexibility in how and when they access their pension savings. But, along with additional flexibility came the responsibility to ensure that it lasts throughout retirement. Worryingly, research indicates that financial pressures mean a quarter of retirees are struggling. Pension Freedoms mean the majority of people can start accessing their pension from the age of 55 (rising to 57 in 2028), a point in life where many are still working. Retirees can then choose from a range of options when ...

Saving for potential care shouldn’t be slipping down priorities

The cost of care is becoming a big issue among retirees. As we live longer lives, more of us will inevitably need some form of care at some point. However, research worryingly shows that it’s an area that’s slipping down the list of priorities. Research from the Association of British Insurers (ABI) found that nine out of ten over-65s have no plan to pay for social care, despite around half of all care users having to pay at least a portion of the costs. When asked ...

How advice at retirement can help you create a long-term plan

Retirement represents a huge change in your life. It’s a milestone that often means making decisions that could affect the rest of your life. However, research indicates that thousands of retirees are accessing pensions and embarking on the next stage of their life without seeking financial advice. It could mean finances are stretched further than expected in retirement. According to research from the Association of British Insurers (ABI), a third of retirees are accessing pension savings without ever taking advice. As the average pension rises to ...

Is a guaranteed or flexible income in retirement right for you?

Those approaching retirement can choose the type of income they want to receive: guaranteed or flexible. But which option is right for you? Since 2015, retirees have had far more choice in how and when they access their pension savings. In the past, it was the norm to purchase an Annuity to secure a guaranteed income for life. However, retirement lifestyles and aspirations have changed enormously over the last couple of decades and, as a result, many are favouring a more flexible approach to income. A guaranteed income If you have a ...