Retirement wealth

Retirement wealth

What’s the right answer for you?

The first increase in minimum automatic enrolment (ae) workplace pension contributions came into effect on 6 April[1]. According to research from Scottish widows, however, one in five Britons (20%) – amounting to more than ten million people – say they’ll work until they’re physically unable to, while one in 20 (6%) – another three million people – say they expect to work until they die.

Preparing for the future

Preparing for the future

With auto-enrolment contributions set to rise again, South Tyneside-based Fairstone, one of the UK’s largest Chartered financial planning firms, reflects on the need for everyone to have a practical retirement plan in place.

The start of the new tax year sees the minimum contributions of workers in auto-enrolment pensions rise from 1% of their income to 3%. Employer contributions have also increased from 1% to 2%.

How to make the most of your retirement

How to make the most of your retirement

Steps you could take to increase your eventual income

Even if retirement isn’t far away, there are steps you could take to increase your eventual retirement income. This applies both to your state pension entitlement as well as to any personal or workplace pension pots.

We’ve provided some areas to consider that you may wish to discuss with us to help you to meet your retirement goals.

Make sure you have details for all your pension pots

New lease of life

New lease of life

Pensioners embracing the benefits of retirement and new-found time.

As with any new life stage, planning often helps a smooth transition from the old to the new. Preparing properly for anything new requires planning and commitment. Spending time on planning now will ensure you enjoy the retirement you’ve worked hard to achieve.

Planning the future you want

Sandwich generation

Sandwich generation

Not having enough money for retirement is the biggest concern

Average life expectancy has generally been increasing, and for the ‘sandwich’ generation, saving for their retirement is clearly a big concern, and with plans to contribute financially to support their children and parents, it’s perhaps no wonder.

Reach your financial goals

Reach your financial goals

Helping you realise your retirement vision

We’ve now entered a new age of retirement planning with the introduction of pension freedoms. Your retirement is likely to be the most important time in your life you’ll ever plan for – you could be retired for 20 years or more.

Fairstone survey highlights urgent need for ‘millennials’ to plan for retirement

New Fairstone survey highlights worrying trends in at-retirement behaviour

New Fairstone survey highlights worrying trends in at-retirement behaviour

One-third of respondents do not know where they would go for advice

An independent Ipsos MORI survey of more than 2000 people published today by Fairstone, one of the UK’s largest Chartered financial planning firms, examines current attitudes to savings and investment options at retirement.

Respondents were asked to comment on whether they had heard of seven different terms relating to pensions, yielding some surprising results:

Planning for your retirement

Planning for your retirement

Making sure you have enough money in retirement to enable you to spend your time the way you want to, doing those things you always intended to do, is likely to be at the heart of planning for your retirement.

TOO COMPLICATED TO THINK ABOUT

People surveyed for BlackRock’s Investor Pulse survey stated that their biggest financial priority was ‘funding a comfortable retirement’. Yet many people spend more time planning their holiday than their own retirement – perhaps because planning for retirement seems too complicated to think about?

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