'Complete honesty' key to successful retirement planning, advisers say

'Don’t build on sand'

Julia Bahr
clock • 4 min read

In light of the cost-of-living-crisis, war in Ukraine and two years of Covid-19 restrictions, many people are worried about their financial health when they stop working, writes Julia Bahr.

A quarter of savers in the UK are concerned their current level of pension won't be enough to live off in retirement, according to recent research from the Pensions and Lifetime Savings Association (PLSA). Just over a quarter of savers surveyed (26%), who have a workplace pension, think that their current amount of pension saving will not be enough to get by on when it comes time to retire, the data showed. Research from the Office for National Statistics (ONS) found that UK employment rates for people older than 65 doubled between 1993 and 2018. After the pandemic hit, jobsite Indeed...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers say inflation is the biggest threat for clients

Advisers say inflation is the biggest threat for clients

Taxation is cited as a close second threat for clients, according to advisers

Isabel Baxter
clock 07 December 2023 • 1 min read
Low awareness of bond tax benefits 'a growing concern for advisers'

Low awareness of bond tax benefits 'a growing concern for advisers'

Clients not making use of tax benefits from onshore investment bonds

Sahar Nazir
clock 06 December 2023 • 2 min read
Skerritts has bought Chester-based planning firm Chadwick McLean adding £230m in assets under management

Skerritts adds £230m AUM with Chester adviser acquisition

Second deal under Paul Feeney took reigns at PE-backed firm

Jenna Brown
clock 06 December 2023 • 1 min read