Displaying items by tag: retirement planning
Over-50s turn to self-employment to boost retirement savings
Increasing numbers of over-50s are turning to self-employment to help boost their retirement savings, according to new figures.
£1.3bn lost to unclaimed pension tax relief
Britons have lost out on £1.13bn of tax relief in the five years to 2020/21, according to Hargreaves Lansdown.
Nearly 1 in 2 over-50s have no retirement plan
Almost half of peopled aged over 50 do not have a detailed retirement plan while only 16% of UK adults are ‘totally confident’ they have enough money to retire in comfort, according to a new UK Retirement Confidence Index.
Half of retirees exiting work without clear financial plan
Half (49%) of current retirees entered retirement without any clear financial plan, according to a new report.
State Pension set to rise by 8.5%
Retirees are set to receive a 8.5% increase to their State Pension from April next year as CPI inflation held steady at 6.7% for the year ending September.
Rising number of centenarians puts pressure on pensions
New challenges have been highlighted for retirement planning following the publication of ONS statistics today revealing that the number of centenarians living in England and Wales in 2021 climbed to its highest number recorded.
MAPS to launch retirement guidance hub
Government-funded body the Money and Pensions Service (MAPS) is to combine its pensions services under a new Retirement Planning Hub.
Just two-fifths of retirement income provided by pensions
Less than two-fifths (36%) of the average retirement income before tax is made up by pensions, according to a new report.
Less than 40% on track for 'moderate income' retirement
Only 39% of pension savers are on track for a moderate retirement income of £23,300 a year.
1 in 4 advised clients funding adult children
A quarter (25%) of financial advisers are working with clients to release funds to help adult children, according to a new report.