Choosing what to do with your pension is a big decision
If you’ve been saving into a defined contribution pension (sometimes called ‘money purchase’) during your working life, from age 55 (age 57 in 2028) you need to decide what to do with the money you’ve saved towards your pension when you eventually decide to retire.
Simplify your finances and make it easier to keep track of your retirement savings
If you have ever changed jobs, moved homes or had a company you worked for change ownership or close down, then you know how easy it is to lose touch with your pension savings provider. This can happen for a variety of reasons, but it often means that your savings are no longer as secure as they could be.
Why saving enough for retirement is challenging for many people
One of the biggest financial challenges people face is saving enough money for retirement. There are a number of factors that can make this difficult, such as low income, high living costs and unexpected expenses.
People using property to support their retirement lifestyle
The significant increase in property prices in recent years has likely shifted many people’s expectations about the role property wealth will eventually play in supporting their retirement. With people spending longer in retirement, one of the challenges that many need to overcome is how to fund it and how to meet the financial demands they may face in later life, such as the cost of long-term care.
