Young women and retirement

How much income will you need for a comfortable retirement?

Almost a quarter (23%) of women in their 20s (aged 22-29 years) would be frustrated if they couldn’t retire by the age of 60, according to new research[1]. Despite this, 10% of this group have opted out of their employer’s pension scheme, further risking their chances of retiring when they plan to.

State pension awareness

What payments can you expect to receive from the government later in life?

In April 2024, the state pension rose by 8.5% to £11,502.40 a year for post-2016 retirees. However, according to new research[1], one in seven (14%) retirees receive less money from the state pension than expected. This highlights the need for more information about the payments people can expect to receive from the government later in life.

Changing retirement trends

Why the concept of a ‘hard stop’ retirement is becoming less prevalent

New research reveals that more than a quarter (28%) of individuals aged 25 to 54 do not foresee a complete retirement in their future[1]. This suggests the concept of a ‘hard stop’ retirement is becoming less prevalent among those considered to be in their prime working years. This emerging trend reflects a significant shift in how modern workers approach their career trajectories and financial planning.

Many Britons unaware of incorrect tax codes

What you need to know to avoid discrepancies and potential financial strain

According to research[1], almost a third of UK adults who have checked their tax code (31%) have found that they have been on the wrong one at some point. Additionally, one in six (15%) UK adults do not know if they are on the right tax code.

Building financial confidence in children

Sharing values and encouraging children to formulate their own

Having a conversation with children about money early on helps them to build financial confidence and learn foundational principles that will be useful for years to come. It also allows parents to share their financial values and wishes. We look at some practical ways this can be done at different stages of childhood.

Retirees supporting family and friends financially

Nearly 40% support grown-up children, a spouse or partner, a parent, an elderly relative, or a friend

When times are hard, it makes sense that families will look for ways to support each other emotionally and financially. And if you’re one of the many retirees supporting family and friends financially, you’re not alone.