Will you keep working after turning age 65?
Many of us dream of retiring early and spending our post-working life indulging in our hobbies and passions. But since the state pension age went up from 65 to 66 between late 2018 and late 2020, employment rates among 65-year-olds have reached record highs. According to a report from the Institute for Fiscal Studies (IFS), the increase in employment among this age group since the change was implemented is…
Do you know when the Pension age moves from 55 to 57?
The minimum pension age for accessing workplace and personal retirement savings is set to go up from 55 to 57 in 2028 – a change that could have a big impact on people’s retirement planning decisions. But a new study has found that less than one in five people in their 40s are actually aware of this upcoming change. Figures from the Pensions Management Institute (PMI) also show that…
Worrying about saving enough for Retirement is more common than you may think
Determining how much you need to save for the retirement you want can be difficult enough without actually having to save the money. Your requirements and desires will change over time in the same way that your income is likely to fluctuate. You can’t be expected to know exactly what you’ll need in 5 years’ time, let alone 20 or 30, depending on where you are in your journey…
How much should you really be saving for retirement?
Retirement should be the time in your life where you’re able to relax and enjoy the fruits of your labour throughout your working life. However, simply paying into your savings or a pension for when you retire might not allow you to do this if you’re not putting enough away. But what does “enough” look like? Here are a few questions to consider to help you get started. How…
