pensions

Rising costs force one in ten to cut pension contributions

11th February 2025 Consumer Lending | #pensions

One in ten high net worth individuals (HNWIs) have cut their pension contributions over the past year in order to balance pressures on their day-to-day finances, according to the latest findings from UK wealth management firm Saltus. The report found that the vast majority (93%) said that the current economic environment has negatively impacted their lifestyle…

One in five don’t know how much is going into their pension

19th November 2024 Consumer Lending | #financial services #pensions

Data from Opinium on behalf of Hargreaves Lansdown has found that one in five people don’t know how much is going into their pension. A further 19% don’t know much they and their employer is contributing to their pension. This rises to one-third (33%) of people aged over 55. This compares to 10% of people…

150,000 pensioners get a State Pension of less than £100 a week

2nd September 2024 Consumer Collections | #pensions

New data from the Department for Work and Pensions (DWP) accessed by Royal London has revealed that around 150,000 pensioners receive under £100 a week, less than half the full new State Pension of £203.85 a week. Royal Londosn says pensioners who are missing out on the full State Pension is because they have gaps…

Delayed retirement now likely for millions as pension savings gap widens

24th July 2024 Consumer Collections | #old #pensions #retirement

More than half (54%) of UK retirees expect to work longer than they would like, on average by seven years, highlighting a worrying gap between people’s desired retirement age and the adequacy of pension savings. In addition to that, over a quarter (27%) of those who have made retirement plans don’t feel that they would…

Almost 7 million people over 50 at risk of poverty in retirement

9th April 2024 Consumer Lending | #pensions

Almost 7 million people aged over 50 have no private pension, putting them at risk of retirement poverty, according to the latest analysis by SunLife. The report showed that around 2.4 million (20%) of men over 50 and 4.4 million (33%) women are relying on the state pension alone to fund their retirement. With the…

Almost 7 million people over 50 have no private pension

25th October 2023 Consumer Lending | #pensions

Almost 7 million people over 50 have no private pension, putting them at risk of retirement poverty, according to the latest research and analysis by SunLife. The research has revealed that around 2.4 million (20%) of men over 50 and 4.4 million (33%) women are relying on the state pension alone to fund their retirement, which…

Women being left behind by wayward pension policy

27th September 2023 Consumer Lending | #pensions

Women have significantly less confidence than men in the government and its ability to support their long-term financial goals, new research by My Pension Expert has revealed. Just 22% of women think the government has done a good job of supporting pension planners during the cost-of-living crisis. The figure rises to 28% among men. Only 20% of…

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