Pessimistic retirement outlook opportunity to engage next generation

The introduction of auto-enrolment and the subsequent contribution increases has made saving for retirement a common discussion topic. Yet many UK workers and particularly younger generations aren’t optimistic about their life once they retire but it could be an opportunity to engage. For many, passing on some form of financial legacy once they pass away is a goal. But imparting financial wisdom while you’re still alive could have a far greater and lasting impact. With many in the UK worried about how they’ll finance their retirement years and the lifestyle they’ll be ...

The challenge of working into retirement

More people approaching the traditional retirement age are extending their working life. Whether circumstances mean it’s necessary to continue earning a wage or it’s your personal choice, there are challenges associated with working into retirement and it should affect your financial planning. According to research from Aviva, there are 10.2 million workers aged over 50 in the UK, with 63% now planning to retire later than they thought they would just a decade ago. Despite being within 15 years of the current retirement age, 6.4 ...

Could looking after the grandkids be the key to a boost in retirement income?

One in 10 grandparents is responsible for caring for grandchildren on a daily basis, according to research from Halifax. While you might feel that taking care of your grandchildren isn’t hard work, or is a natural part of life, it could also be the key to a higher retirement income. A recent report has shown that approximately 100,000 grandparents could be eligible to claim Childcare National Insurance Credits which will boost the amount of State Pension they receive when they reach State Pension Age. (Source: Department for Work & ...

Moving forward together: The importance of retirement planning as a couple

Talking about the future is natural in the early stages of a relationship. You have probably been involved in a conversation along the lines of: “Where is this going?” “When will we get married?” “Do we want to have children?” Hopefully, you made it through those discussions and are now looking forward to leaving work and enjoying your retirement together. Unfortunately, it seems that the older we get, the less we talk about how we envision the rest of our lives. Especially when it comes to retirement planning. According to research from Prudential, ...