×
Are rising costs impacting pension savings and retirement plans?
10th July 2023
Research from WEALTH at work* has revealed the impact of rising costs on pension savings and retirement.
Key findings include:
- 29% of employees admit they may consider stopping pension payments in the future, and 30% may consider reducing future payments
- 31% of those old enough to do so, either intend to or may consider in the future, withdrawing pension savings to supplement their income
- 33% of employees think they won’t ever be able to afford to retire at all due to increasing costs
- 83% of employees are concerned the cost of living crisis will mean they will have to work longer before retiring to make up for a shortfall in savings
If you would like to discuss how we can help you to support your employees to improve their financial future, please contact us.
*The research was carried out by WEALTH at work, a leading financial wellbeing and retirement specialist. Affinity Connect and WEALTH at work are both part of the Wealth at Work group.
The latest news is brought to you by WEALTH at work, a leading financial wellbeing and retirement specialist. WEALTH at work and my wealth are trading names of Wealth at Work Limited which is a member of the Wealth at Work group of companies.
Links to websites external to those of Affinity Connect (also referred to here as 'we', 'us', 'our' 'ours') will usually contain some content that is not written by us and over which we have no authority and which we do not endorse. Any hyperlinks or references to third party websites are provided for your convenience only. Therefore please be aware that we do not accept responsibility for the content of any third party site(s) except content that is specifically attributed to us or our employees and where we are the authors of such content. Further, we accept no responsibility for any malicious codes (or their consequences) of external sites. Nor do we endorse any organisation or publication to which we link and make no representations about them.