Savings

Savers likely to increase pension contributions

Working adults would save more if pension contributions increased automatically.

Generous grandparents hand out £37bn

1 in 3 grandparents provided financial support to their grandchildren.

Workplace savings to fund ‘32% of retirement income’

People in the UK are expecting almost a third of their retirement income to come from workplace savings.

Pension freedoms payments hit record high

200,000 people took out flexible payments worth a record £1.86 million in the 3 months to 30 June 2017.

Adults not saving enough on regular basis

56% of adults feel they are not saving enough of their pre-tax income each month.

Under-30s not saving enough for retirement

70% of under-30s are not saving enough to reach their ideal retirement income.

Homeowners rely on parents to move up property ladder

More than a third of homeowners rely on financial help from family and friends to move up the property ladder.

Millennials drive workplace pension participation

78% of eligible employees participated in a workplace pension scheme in 2016, according to the Department for Work & Pensions.

Workers missing out on pension top-up

More than 3 million people could be missing out on a pension top-up from their employer.

Most fathers have no life cover

53% of fathers with dependent children have no life cover.

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