Three years on: Over-55s encouraged to save more by pension freedoms

Four-fifths (82%) want an end to pension tinkering

Victoria McKeever
clock • 3 min read

Around one in ten (11%) of workers aged over 55 said pension freedoms had encouraged them to save more since the rules came into effect in April 2015, Prudential has found.

In the last three years, this group said they had started saving into a pension for the first time, encouraged their partner to save more, increased pension contributions or restarted pension saving since the rules were introduced. According to the research from the provider, which surveyed 1,000 UK adults aged over-55 in February, one in eight (12%) expected to work past their original planned retirement date. Since the freedoms were introduced, one in seven (14%) had also made more effort to learn about retirement savings. Nearly two-thirds (64%), however, said they were confused...

To continue reading this article...

Join Professional Adviser for free

  • 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 Pensions

Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read
Budget 26: State pensioners to be shielded from income tax

Budget 26: State pensioners to be shielded from income tax

State pension expected to rise to £13,036

Sophia Panayi
clock 28 October 2026 • 2 min read