Savings

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.

Divorce reduces pension pot by 16%

Divorcees who are due to retire this year will be 16% worse off than married individuals.

Delaying retirement ‘would boost pension income’

Adults approaching retirement could add £46,388 to their savings if they defer their pension by 5 years.

Retirees fear savings will dry up

35% of retirees worry about running out of cash before they die.

Bleak retirement outlook for Millennials

1 in 10 global workers think Millennials are in the best position for a comfortable retirement.

Workers saving more to meet retirement goals

72% of workplace savers are expressing an interest in personalising their pension to suit retirement needs.

1 in 7 people without a private pension

1 in 7 people aged 55-65 are approaching retirement without a private or workplace pension.

Over-50s retire too early

Four in five retirees wished they had worked longer, according to research by SunLife.

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