Covid-19 hits older workers' retirement saving plans

Pandemic hits pension pots

Jonathan Stapleton
clock • 4 min read
Older workers saving less for retirement due to Covid-19
Image:

Older workers saving less for retirement due to Covid-19

Some 1.7 million workers in their 50s are saving less for retirement due to the pandemic, latest research from Legal & General (L&G) reveals.

The retirement provider has tracked the effects of the pandemic on retirement for the last year and found that in August 2020 hardly any (2%) pre-retirees were actively planning to save less for their...

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.
  • Tap into our community intellignece through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Chancellor Rishi Sunak. Photo: UK Parliament CC BY 3.0

Government confirms plans to review DC charge cap

Consultation will aim to unlock investment while protecting savers

Jonathan Stapleton
clock 27 October 2021 • 3 min read
Frank Field became a Lord in 2020.

Former Work and Pensions Committee chair Lord Frank Field is dying, peer reveals

Became Lord in 2020

Tom Ellis
clock 22 October 2021 • 2 min read
Andrew Megson: "From the FCA introducing the investment pathways to promote generic guidance as opposed to improving access to independent financial advice, to the temporary pausing of the state pension triple lock, savers would be forgiven for feeling uncertain about their future."

Andrew Megson: Autumn Budget 2021 pension planning predictions

What planners should look out for

Andrew Megson
clock 22 October 2021 • 4 min read