May 2024
13May

Rise in ultra-long mortgages ‘poses risk to UK retirement prospects’

Homebuyers are increasingly being forced to “gamble” with their retirement prospects to get on the housing ladder by taking on ultra-long mortgages lasting beyond the end of their working life, it has been claimed. More than a million mortgages that stretch beyond the borrower’s state pension age have been arranged in the last three years, figures show. The data, obtained via a freedom of information (FoI) request by the former Lib Dem pensions minister Steve Webb, show the proportion of home...

May 13, 2024
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09May

Two in five current UK retirees have ‘retirement regrets’

Two in five (40 per cent) current UK retirees would have done something differently in how they approached their retirement, research from Canada Life has found. The research revealed that almost one in five (17 per cent) retirees would have increased pension savings while working, whilst just over one in 10 (12 per cent) would have made lifestyle adjustments while working to save more for their retirement. Furthermore, the firm found that nearly one in 10 (8 per cent) current retirees...

May 9, 2024
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06May

Only 18% of Ghanaians confident about retirement – Old Mutual Financial Services Monitor

Only 18% of Ghanaians confident about retirement – the Old Mutual Financial Services Monitor The Old Mutual Financial Services Monitor is a study aimed at uncovering the financial behaviour, attitudes, and perceptions of working Ghanaians. Not only has it achieved this objective, but it has also provided valuable insights for Financial Services Providers (FSPs) to better serve their customers. Today’s focus is on retirement savings and the attitude of the working Ghanaian towards it. The monitor reveals a high correlation between...

May 6, 2024
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03May

Financial Fragility, Financial Resilience, and Pension Distributions

By Robert Clark & Olivia S. Mitchell  We evaluate Americans’ financial robustness during the COVID-19 pandemic, using measures of financial resilience and financial fragility derived from U.S. surveys of persons aged 45 to 75 from 2020 to 2022. We analyze which factors were associated with resilience and fragility, discuss how these measures changed during the pandemic, and assess whether prepandemic resilience led to better outcomes during the period. Results show that stronger resilience was protective in terms of financial fragility,...

May 3, 2024
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02May

The Retirement Labyrinth: Navigating Challenges for Gen X and Y

For many, the road to retirement is paved with uncertainties. This is particularly true for Generations X and Y. Caught between the Boomer behemoth and the enigmatic Zoomers — these generations face unique challenges. In contrast to their predecessors who rode the wave of economic prosperity, Gen X and Y encounter choppy waters: stagnant wages, rising healthcare costs, and unstable job markets. This blog post, however, delves into the specific challenges these generations face and offers practical strategies for navigating toward financial security. The Generation X...

May 2, 2024
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April 2024
29Apr

25% of Americans over 50 don’t expect to retire. How to start saving

About a quarter of Americans above the age of 50 say they expect to never retire as the cost of living rises faster than their income, according to a new AARP study. Certified financial planner Shinobu Hindert joined NewsNation’s “Morning in America” with tips on how to plan for retirement amid rising prices. Hindert says when planning for retirement, a person should ideally have the equivalent of one year’s salary saved by the time they are 30, three times their annual salary...

April 29, 2024
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26Apr

Trust & Confidence Index 2023

By Trafalgar House  The Trust & Confidence Index gauges the trust and confidence levels of more than 2,000 individuals annually, serving as a benchmark for the public's perception of the pensions industry. The index assesses the pensions sector against other financial services, identifies factors influencing trust levels, and determines which service areas people consider significant. Additionally, the analysis probes individuals' attitudes toward their retirement decisions and plans. Get the report here

April 26, 2024
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26Apr

UK. Public trust in pensions rises, but reservations remain

Trafalgar House’s Trust and Confidence Index polled 2,000 people to assess how much they trust the pension industry and whether they believe it will meet their retirement needs. It asked participants to rate their trust in the pensions industry on a scale of 0 to 10, with 0 being “not at all” and 10 being “a lot”. The index found that trust in the pensions industry increased to 5.26 out of 10 in 2023, up from 4.95 in 2022. This...

April 26, 2024
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17Apr

US. Inflation Concerns Still Impacting Retirement Planning Decisions

Ongoing economic challenges are changing how Americans are thinking about retirement planning, with nearly 6 in 10 pre-retirees (57%) believing that inflation poses the most immediate challenge to their retirement portfolios over the next 12 months. And this stress apparently is shifting the perception of life as a retiree, especially for those closest to retirement age. Findings from Nationwide's ninth annual Advisor Authority survey show that roughly 7 in 10 pre-retiree investors (69%)—defined as non-retired investors aged 55-65—agree that the norm...

April 17, 2024
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