Unexpected medical expenses, the desire to pay off debts or the need for additional income to support a particular lifestyle can drive retirees to access their pension savings earlier than planned.
The most notable shift between past and future retirement perceptions is a substantial increase in individuals never fully retiring because they want or need to continue working.
The Autumn Budget will outline the government’s economic strategy, providing insights into their taxation, public spending and fiscal policy plans.
Many individuals are rethinking when and how they will retire. Instead of aiming for a traditional endpoint to their professional lives, they are exploring flexible work arrangements, part-time opportunities, and phased retirement plans that allow them to gradually reduce their workload while maintaining an active role in their careers
Nearly a third (31%) of UK adults who have examined their tax code discovered errors at some stage, with 6% realising they were on the incorrect tax code within the last year[1].
Some parents dread talking to their children about money, others simply struggle to know how or at what age to begin.
With financial pressures such as day-to-day living costs fuelled by inflation, expensive property, and education fees, retirees are increasingly expected to give their grown-up children, family members, and friends some financial help.
Pension saving can seem complicated and inaccessible for many people, but we should all be doing it as soon as we start working
You can pass a home to your spouse or registered civil partner when you die, and there’s no IHT to pay. Leaving the home to another person in your Will counts towards the estate’s value.
Grandparents who care for grandchildren may be able to claim National Insurance (NI) credits to potentially increase their State Pension by thousands of pounds over the course of retirement.
35% don’t know how much income they would need for a comfortable retirement, and nearly two in three (62%) young women are concerned about completely running out of money in retirement
Over a fifth—22%—of retirees surveyed were already reducing or stopping medication spending, 15% were skipping meals due to their financial situation, according to data from Senior Capital, which surveyed around 2,070 respondents.
By taking the proactive step to draft a Will, you can protect your family from uncertainty and potential conflicts, ensuring that your legacy is preserved according to your exact intentions.
