Mismatch between retirement expectations and actual reality
Retirement is a chance to do more of what you enjoy. When it comes to planning for your retirement, you need to think about what you’d like your life to be like. There is no set retirement age in the UK any longer, so you can carry on working as long as you like (or as long as you need to).
Tangible benefits older workers bring to the workplace
The days of an employee turning 65, getting a gold watch or carriage clock and being ushered into a new world of golf, retirement communities and early-bird specials are rapidly disappearing. People are living longer, and organisations are shifting their attitudes toward older workers as a result.
Why longevity also brings with it some unique financial challenges
Statistics clearly show that Britons are living longer. While a long life can be a good thing, longevity also brings with it some unique financial challenges. Our ageing population is drastically altering the economic landscape of the UK, the latest figures from the Office for National Statistics (ONS) have indicated.
Income gap between the wealthiest and poorest pensioners is growing
The members of Britain’s baby boomer generation who are now entering retirement have been called ‘the richest generation in history’. But the income gap between the wealthiest and poorest pensioners is growing, with those in the top pension income band now having an average weekly income of almost £1,000.
Those potentially most exposed to a pension shortfall are not people just entering the workforce, most of whom presume they will work until their 70s and will receive limited support from the state. Those most at risk of enduring a more frugal older age are those currently in their 40s and 50s who grew up assuming that the pensions system their parents enjoyed – generous income and retirement in their mid-60s – was the norm.
Your home may be repossessed if you do not keep up the repayments on your mortgage.
Decisions should not be taken based solely on the content of the website and individual advice should be sought first.
Regulations, levels and bases of taxation are subject to change.
Registered Office: The Old Cider Mill, Glewstone, HR9 6AS Registered in England and Wales number Company Number: 7061799
The material on the site is the copyright material of RJS Financial Ltd. You may not copy, reproduce, republish, disassemble, decompile, reverse engineer, download, post, broadcast, transmit, make available to the public, or otherwise use RJS Financial Ltd content in any way except for your own personal, non-commercial use. This includes but is not limited to all individual fund manager data such as rankings of fund managers and ratings of fund managers. RJS Financial Ltd does not accept any liability for your reliance upon, or any errors or omissions. Any other use of RJS Financial Ltd content requires the prior written permission of RJS Financial Ltd.
RJS Financial Limited is authorised and regulated by the Financial Conduct Authority, registration number 656599