New research shows that single people face an uphill climb heading into retirement, having to save significantly more proportionately than their couples counterparts in order to enjoy a similar lifestyle. New analysis by Standard Life has thrown into sharp focus the additional savings that single people need to build up for retirement, compared to pensioner couples who […]

Every year, thousands of elderly people and their families face the conundrum of how to pay for care home fees – which can typically be between £40,000 and £50,000 a year. Shaw Lifetime Care, part of the charitable Shaw Foundation offers a unique option which allows them and their families to retain their home, draw […]

With a large proportion of the country finding their budgets being squeezed, we look at the questions everyone needs to ask to ensure they retire comfortably. The cost of living is depleting many people’s ability to save each month, and the latest stats reveals that only 39% of UK households are currently on track for […]

New statistics have revealed the size of pension pot you need to secure each of the Pension and Lifetime Savings Association (PLSA)’s Retirement Living Standards “minimum”, “moderate” or “comfortable” retirement. The analysis by Standard Life, part of Phoenix Group, makes for sobering reading as the spiralling cost of living pushes up the targets for those […]

Rising rents and mortgage costs are putting many people’s retirement plans under pressure, as new data from the English Housing Survey reveals. Renters report spending a higher proportion of their disposable income on rent (21%) than mortgage holders on their mortgage (16%). And while older people are more likely to own their homes outright, the English Housing Survey shows over a […]

A bundle of complex tax consultations published on 18th July contained what has been described as a “potential bombshell” for anyone expecting to inherit a pension pot free of income tax. Since 2015 it has been possible to inherit a pension pot free of both inheritance tax and income tax, where the person who died […]

“Life is what happens when you’re busy making other plans” goes the famous quote: the years heading towards retirement are rarely a straight line… and finding oneself having to provide care or support a family member can make a serious dent on our future finances. New research from Pension Bee shows that two-in-three people are […]

If you are wondering whether you might need to review the date when you plan to retire, go part time, or take on lower paid work, you’re not alone – and with good reason as the financial goalposts keep being moved. What a difference a year makes. Last year, the media was full of stories […]

How much would you need to put aside in order to receive the full state pension? The figures are in and they make a compelling argument to keep your contributions topped up. Many, but not all of us, will be heading into retirement with the prospect of a full state pension to look forward to. […]

Sales of annuities, which provide a guaranteed income for life, surged 22% during the first three months of 2023 according to the latest data from the Association of British Insurers – and high inflation and rising interest rates look set to continue the trend. Annuity rates are strongly linked to interest rates, and the sharp […]