By now, you’ve probably been saving for your retirement for several years, and you might have amassed a few different workplace pension pots. Your 40s are a great time to take stock and start to plan for life beyond the workforce.
ONS are forecasting that around 19% of all newborn girls (and 14% of all newborn boys) will become centenarians. We’re calling this lucky, long-living group Generation Centenarian.
Many people may need to reduce the income they are taking from their drawdown pension funds in light of recent falls in the value of their investments resulting from the economic impact of Covid-19.
This October marks the seventh anniversary of the start of workplace pension auto-enrolment, perhaps proving that some grand government schemes can be a success.
Pension savings have grown after six years of automatic enrolment, but more progress is required to provide most people with adequate funds for retirement.