Blog Article

Planning for retirement: is your pension going to be enough?

Planning for retirement: is your pension going to be enough?

Date: 17 August 2021 | By: cosgrove

It can be challenging to feel confident in our pension provision these days. Increased life expectancy and high living costs mean we need to save ever more into the pot when planning for retirement. We are here to help improve your pension confidence and build your pension.

Do yourself a favour
Just 41% of non-retired UK adults are confident they’ll have saved enough by the time they retire,
according to a study from financial services provider LV1, increasing to two-thirds (66%) of women. A lack of confidence in our finances can cause a great deal of worry and stress, adversely impacting our
mental health. Positively, though, 65% of those who had consulted a financial adviser said they felt confident about their pension provision.

Planning for Retirement
Advice was also shown to increase the priority people gave to their pension, with 55% of advised adults increasing their contributions and 56% discussing their retirement plans with their partner. They were also more likely to have researched what they would need to live on during retirement. You need to plan ahead to be sure your pension will be enough.

The value of advice
We can help you engage positively with your pension, increasing your confidence and setting you on track to reach your retirement goals. Of course, our first question will be 'is your pension going to be enough?' as we want you to think about your objectives, your aspirations and the future you want when planning for retirement, so that we can help you to build your pension and achieve it all.

Key pension services

  • pension review
  • pension consolidation
  • pension transfers
  • pension draw down and defined benefit pension transfer.

Transferring out of a final salary pension is unlikely to be in the best interests of most people.
1
LV, 2021

Essentially Wealth/Quilter Q3 2021


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