Those nearing retirement have plenty of lessons to teach younger generations. A survey asking over-50s how they feel about their pension and retirement plans has highlighted some regrets workers could learn from. When you’re in your 20s, 30s and 40s, retirement can still seem like it’s a long way off and it can lead to “pension apathy”. You may believe it’s something you don’t need to think about until your retirement date is near. However, engaging with your pension sooner m

Figures suggest that workers nearing retirement could find they’re facing a significant income shortfall later in life. Understanding how your pension savings will add up before you retire is crucial for creating long-term financial wellbeing. According to a report from the Social Market Foundation, people approaching retirement are facing a pension shortfall of almost £250,000 if they want to achieve their desired income. Collectively, across the UK there’s a savings gap of

Flexi-access drawdown can provide retirees with more freedom to create an income that suits their lifestyle. However, Financial Conduct Authority (FCA) figures suggest that many retirees are taking unsustainable amounts from their pensions. It could mean they run out of money during retirement. The government introduced Pension Freedoms in 2015, which provide retirees with more ways to access their pension savings. Flexi-access drawdown has proved a popular way to create a re

Pension Awareness Day is just around the corner and is the perfect time to review your pension to make sure you’re getting the most out of it. So, ahead of 15 September, here are seven things you can do to get your pension into shape. 1. Check your pension savings Start by looking at the headline figure; how much do you have in your pension? And how is it forecast to change? Being able to see how your pension is growing and the forecast value at retirement can help you keep m