It is very important to save for your retirement but many people may not realise that it could be possible to have the same disposable income in retirement as when they were working, even if their pension income is less than half their salary.
22% of UK adults expect they will never be able to afford to retire, equating to almost 8 million people according to latest research.
Figures published by HM Revenue and Customs (HMRC) have revealed that a record 336,000 individuals have taken £2.75bn out of their pensions in the second quarter of 2019.
WEALTH at work, a specialist provider of financial education and guidance in the workplace supported by regulated financial advice for individuals, has once again been identified as one of London Stock Exchange Group’s 1000 Companies to Inspire Britain.
Latest research has found that increasing numbers of employers are now offering financial advice as part of their workplace benefits. The survey of employers found that 35% currently offer their employees access to financial advice, compared to 12% last year.
A Pensions Policy Institute (PPI) report recently outlined that there may be 12 million individuals who are under-saving for their retirement.
Jonathan Watts-Lay, Director, WEALTH at work outlines some of the key considerations for individuals facing retirement.
WEALTH at work’s top 10 checklist of things to consider when deciding whether to transfer out of a DB scheme
Individuals approaching retirement are likely to be ill-prepared for the risks they face when accessing their pension, ranging from paying too much tax, to running out of money before the end of their days, or even losing their life savings to scams, according to a new survey of pension scheme Trustees.
The Department for Work and Pensions has published its response to its consultation on pensions dashboards.
