Listen: Pensions Awareness Week

Pension Awareness Week (13th – 17th September) aims to help people to value and understand their pension and plan for their retirement.

Trips to the seaside, pints in the pub and coffees with friends are amongst life’s little joys Generation X crave most for their post-work years, but many could be facing a pension without all the trimmings according to new research from MoneyHelper.

Over 2,000 UK adults aged 40-55 years were asked to take stock of their hopes for retirement. The pandemic has meant of those planning to retire, four in ten (41%) have reassessed their priorities for retirement such as what they will spend their income on, and 33% of Generation X want to prioritise socialising over ‘big ticket’ items and experiences such as holidays. Over two thirds (73%) said spending time with family and friends is more important to them now, and (55%) are making a more conscious effort to socialise with their loved ones.

Aston spoke to pensions expert at Money and Pensions Service Angela Kirkwood.

Photo by Colin Watts on Unsplash