More than half of UK adults (51%) say that the pandemic has made them more conscious of the need to save more, with over a quarter (26%) saying it has made them recognise that they do not have enough savings, according to a new survey of working adults by WEALTH at work.
More than half of UK adults (51%) say that the pandemic has made them more conscious of the need to save more, with over a quarter (26%) saying it has made them recognise that they do not have enough savings, according to a new survey of working adults by WEALTH at work.
New research from WEALTH at work has uncovered the varying impact the pandemic has had on retirement plans.
Pension scheme members now have to grapple with a multitude of risks which have become increasingly complex and uncertain.
Someone aged 45, with a pension fund of £400,000 and a salary of £50,000, could have a pension fund of £1,381,000 by the time they retire at 65
New figures from HMRC show 360,000 people withdrew from their defined contribution (DC) pensions throughout October, November and December 2020.
Latest reports from The Office for National Statistics have indicated that Covid-19 is continuing to drive job losses across the UK.
New pension rules will come into force from the 1 February 2021 for those approaching retirement under Financial Conduct Authority (FCA) regulation.
Retirement plans for 2021 have changed for many due to the pandemic.
The New Year is a great time to take control of your finances. Unfortunately, the income of many households across the UK have been seriously impacted by the pandemic, with many people having been made redundant and others having to manage on a reduced income.