5 Interesting Facts about Retirement

RETIREMENt

Did you know;

  1. Half of current retirees surveyed say they left the work force unexpectedly as a result of health problems, disability, or getting laid off. If you think you’ll just “work forever” instead of planning for retirement, you may want to think again. (Source: Employee Benefit Research Institute)

2. Employers have to automatically enroll their staff/workers into a workplace pension scheme as long as they work in the UK, earn more than £10,000 a year and are between 22 and 65.

3. It’s never too late to start a retirement plan, no matter how old you are, other commitments you have, how much you think you have spent or how much you earn you can always have a retirement plan.

4. Inflation and the type of investments you make play important roles in how much you’ll have saved at retirement. Know how your savings or pension plan is invested. Learn about your plan’s investment options and ask questions. Put your savings in different types of investments. By diversifying this way, you are more likely to reduce risk and improve return.

5. Retirement age is not the same as State Pension age which can be between 61 and 68, depending when someone was born and if they’re male or female. Anyone can carry on working past State Pension age.

Planneddeparture will be bringing you more interesting facts! We will keep you posted.

 

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