“Brits will find it harder to retire comfortably in the UK, study claims”

Sep 7, 2023 | Financial Services

Here’s more on that self-same Advice Gap. One reason that many correctly think it will become harder, if at all possible to retire is that auto-enrolment pensions will never without attention, provide a comfortable income; if your definition of comfortable is about what you’re earning now. And the paring back of charges, a good thing of course for the pensions themselves, means that advice in the workplace will only be available if a kind employer pays for it. Go figure. This goes hand-in-hand with the demise of final salary pensions, now only available in watered-down versions in what’s left of the public sector. Yes, I know, there are all sorts of reasons for this, mainly the aging population. When they were invented, many of those pensions would only have been paid for 5 or 10 years and now we’re all living longer. That’s a ‘problem’, however, which may self-correct if we don’t sort both pensions and the NHS in pretty short order. 

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