Savings

Over-55s worried about running out of retirement income

1 in 5 feel ‘worse off’ than expected.

False confidence over pension products

Most retirees misunderstand annuity and drawdown features.

Most Brits face working into mid-60s

1 in 5 resigned to working later out of necessity.

Most retirees do not shop around for pension products

A third of drawdown sales since 2015 were non-advised.

Retirement savers struggle to clear debts

38% do not clear credit card balances every month.

Savings rates cut on Growth and Income Bonds

Interest on popular NS&I bonds cut for new customers.

Most people only use one ISA product

34% of adults have used an ISA in the past year.

Home ownership falls for middle-income young adults

Rate falls 38% in the last 20 years.

Cash ISA rates begin to rise

Rates rise by 0.10% on average in last 3 months.

Property proves most popular retirement saving option

Workplace pensions seen as the safest option for retirement saving.

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