Planning for retirement is all too easy to put off. Perhaps it feels too distant, or the idea of slowing down just isn’t attractive. Maybe your current pension situation seems bewilderingly complicated. Or perhaps saving more simply feels unaffordable.
The statistics bear this challenging situation out: research (pdf) for the savings and investment company M&G found that only 13% of men and 8% of women who are not retired had a comprehensive financial plan that would allow them to lead the life they wanted in retirement, and more than a third (35%) of 45- to 54-year-olds surveyed hadn’t even started planning.
M&G wants to see pension checkups introduced at key financial life stages, such as when you change jobs, get promoted, or buy a house. A simple interactive tool would let people see where they stand, and show the impact of different savings choices on their pension
Continue Reading on The Guardian
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.