Growing job insecurity, financial market volatility and rising prices have created an extremely uncertain environment for UK savers. The country’s welfare provisions are among the lowest of all OECD countries and a growing number of pensioners are finding it difficult to gain financial security in later life. Even well-known money-saving experts have run out of ideas to help those struggling with their finances.
In such tough times, people planning for old age must be even more canny about their money to ensure there is enough for a comfortable retirement. Pension planning typically starts with a long-term savings goal to ensure an adequate income during retirement. Then savers usually make regular contributions to suitable investment products in line with this goal over the course of their working lives.
