Britons urged to act on pensions as retirement ‘in sharp focus’ due to cost of living

Pension and retirement planning is often years in the making, but these dreams are at risk for thousands. This is due to the rising cost of living, with many worried they will be financially stretched as a direct result.

Now, a new survey has demonstrated the depths of the issues faced by those on the cusp of retirement.

According to Unbiased.co.uk, three quarters of those aged 50 or over are concerned about how rising prices will impact them after they leave the workforce.

One in two have now expressed fears 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 pulled retirement plans into sharp focus.

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This could involve finding a regulated pension adviser who is likely to provide tailored and specialised advice.

The Government also offers a service known as PensionWise.

The free and impartial service offers guidance about a person’s pension options for retirement. 

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