UK employees are seeking support with their pensions, but many are turning to informal or unregulated sources, while others are not taking any action at all, according to new research from financial wellbeing and retirement specialist WEALTH at work.
Despite widespread concerns about retirement affordability, many UK workers are failing to actively engage with their pension savings, according to new research from financial wellbeing and retirement specialist WEALTH at work.
Multiple pension pots are now the norm for many UK workers, creating new challenges around visibility and engagement, according to new research from financial wellbeing and retirement specialist WEALTH at work.
A lack of understanding around pensions continues to undermine retirement confidence among UK workers, with new research from financial wellbeing and retirement specialist WEALTH at work revealing growing gaps in knowledge.
More than a third (38%) of UK employees with a defined contribution pension fear they will never be able to afford to retire due to the impact of increased living costs, according to new research from financial wellbeing and retirement specialist WEALTH at work.
Rising childcare costs and increasing pressure on those with caring responsibilities for older family members are putting a growing strain on employees’ financial wellbeing – with long-term implications for retirement outcomes, according to research from REBA in association with WEALTH at work.
Over the years, successive governments have been striking a clear and consistent message: the UK must become more resilient. From pandemics and extreme weather to cyber attacks and economic shocks, ministers have repeatedly warned that disruption is no longer exceptional, but a feature of modern life.
Financial wellbeing experts WEALTH at work says new research shows that, as the cost of living continues to stretch household budgets and economic uncertainty persists, how people save their money is becoming increasingly important for long term financial security.
Financial wellbeing experts WEALTH at work say that while pensions can be one of the most valuable ways of saving for the future, many people don’t realise that saving just a bit more can make a significant difference to the overall size of their pension pot at retirement.
Almost a third (29%) of workers worry about being unable to afford basic living costs, while 26% are worried about being in debt, according to new research of 2,000 workers from financial wellbeing experts WEALTH at work .