Pension and retirement planning often takes years to complete, but those dreams are in jeopardy for thousands of people. This is due to the rising cost of living, and many fear they will be financially strained as a direct result.
Now, a new survey has demonstrated the extent of the problems facing those about to retire.
According to Unbiased.co.uk, three-quarters of people aged 50 or over worry about the impact of rising prices on them after leaving the labor market.
One in two have now expressed fear that they will not have enough income to survive financially once they stop working.
Karen Barrett, CEO and Founder of unbiased, said, “The cost of living crisis has put a spotlight on pensions.
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This could involve finding a regulated pension advisor who can provide personalized and expert advice.
The government also offers a service known as PensionWise.
The free and impartial service offers advice on a person’s pension options for retirement.
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