Employee workplace pensions in the UK – Office for National Statistics report<\/a>.\n<\/p>\n\n \u201cToo many people are approaching retirement without knowing where they stand or whether their current savings will support the lifestyle they want,\u201d he says.\n<\/p>\n
Women are disproportionately affected<\/p>\n
42% of women lack confidence in their retirement income<\/p>\n
Just 27% of men express similar concerns<\/p>\n
Women are less likely to have formal financial goals or plans in place<\/p>\n
Small changes can make a big difference<\/p>\n
\n Experts stress that retirement planning doesn\u2019t need to be overwhelming. Simple actions today can have a major impact over the long term:\n<\/p>\n
Check your pension balance regularly using projection tools<\/p>\n
Increase contributions after a pay rise<\/p>\n
Take full advantage of employer-matched contributions \u2014 it\u2019s free money<\/p>\n
Explore the support tools your scheme provides, from guidance to transfer tools<\/p>\n
\n \u201cEmployers and pension providers also need to make it easier for workers to understand and use these tools,\u201d Futcher adds.\n<\/p>\n
\n \u201cImproving retirement outcomes is a shared effort \u2014 small steps now pay off big later.\u201d\n<\/p>\n
\n Recommended reading:\n<\/p>\n
3 easy steps to check your pension today<\/p>\n
\n 1. Log in now
Don\u2019t wait another day – 1 in 5 UK workers have never logged in to see their pension balance. Checking your account helps you understand exactly where you stand.\n<\/p>\n
\n 2. Set clear goals
Even a simple target – like how much income you want at retirement \u2014 makes a huge difference. Nearly 1 in 5 nearing retirement have no goals, so start planning early.\n<\/p>\n
\n 3. Maximise contributions
If your employer offers matched contributions, don\u2019t leave free money on the table. Small increases, even after a pay rise, compound into a significantly bigger pot over time.\n<\/p>\n
\n Use your pension\u2019s online projection tools to see how small changes today could change your retirement picture.<\/p>\n","protected":false},"excerpt":{"rendered":"For millions, State Pension Age increases mean retirement is no longer a distant dream, it\u2019s a looming source…\n","protected":false},"author":2,"featured_media":493623,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-493622","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/493622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=493622"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/493622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/493623"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=493622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=493622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=493622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}