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 ...

Where should you place your savings?

Good news; more than half of adults in the UK are planning to increase their savings this year. However, research suggests they’re unsure where to put it to get the most out of it. With interest rates still low following the 2008 financial crisis, it can be challenging to know where to place savings to generate the biggest returns possible. But taking the time to think about what you want to achieve and considering a financial plan can help you pick out the right option for you. According to ...

Saving for the next generation: What options are there?

More than half of adults had a savings account opened for them when they were children. It's a tradition that many are keen to continue by building up a nest egg for the next generation. According to research from NS&I, opening a savings account for a child has become increasingly popular over the generations. Only 15% of those aged over 65 had an account opened for them between 0 and 5. For those now aged between 16 and 24, the figure has risen to 31%. It’s a step that could give ...

The gap between retirement dreams and savings

Some retirees could be facing a significant gap between their retirement dream and reality, research from Aviva suggests. While workers are making big plans for the next chapter of their life, some aren’t saving enough now to turn them into a reality. It’s a gap that could lead to disappointment in later years. When thinking about retirement, people often have ambitious plans. After decades of being restricted by work, employees hope to have more freedom to indulge their passions, from visiting new destinations to supporting the next ...