Only 8% of 50 to early 60-year-olds have spoken to IFAs

‘Many people in their later working life are shying away from preparing for retirement’

Ayesha Venkataraman
clock • 3 min read

Just eight in 100 people in their 50s and early 60s have had a call with a free pensions advice service or spoken to a financial adviser, according to a new report.

The report, carried out by Invesco, Nest Insight and Maslansky + Partners, looks at how language and framing can support engagement in retirement saving for UK pension savers. The report, , also found that fewer than one in five people have used an online calculator to work out what income they can get in retirement. It identified a range of barriers and complexities that can get in the way of 50-60-year-olds preparing for retirement, including affordability of putting more into their pension pot and/or retiring, being overwhelmed by the options and things to consider, not knowing wha...

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

A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

Transfer delays highlight need for ten-day Pension Switch Guarantee

Sahar Nazir
clock 29 April 2025 • 2 min read
Sipps: How clients can avoid common retirement planning mistakes

Sipps: How clients can avoid common retirement planning mistakes

'Retirement planning stands as a cornerstone of long-term financial well-being'

James Floyd
clock 28 April 2025 • 4 min read
Origo completes pensions dashboard connection

Origo completes pensions dashboard connection

Completed connection ahead of this week’s first deadline

Holly Roach
clock 28 April 2025 • 2 min read