While automatic enrolment will see more people saving through pensions, some people will need to save more to have an adequate income in retirement. The ability to access pension money from age 55 and to have the freedom to make income choices may also have an impact on later life.
People in retirement need to balance the need to make ends meet while preparing for unpredictable life events like ill health, care needs or bereavement. The Strategy aims to improve accessibility of financial products and services, providing tools and guidance that reflect the reality of life in retirement.Learn more
Different life stages have an effect on people's ability to manage their money.