The main state pensions will have risen faster than inflation by April 2021, but these state benefits are still low compared with even average earnings.
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.
Women are saving more than ever into pensions, but they still lag behind men in retirement savings, resulting in a gender pensions gap.
The new State Pension has failed to keep up with the National Living Wage in the years since they were both set up in April 2016.