Rising costs in later life are at risk of out stripping what they can realistically deliver.
Workplace pensions have been around for some time. However, increasingly those who haven’t sought advice are finding that their retirement income isn’t what they had come to expect or hope for. This is a surprisingly common and concerning phenomenon. It was an issue picked up by the FT Adviser recently, who mentioned that key factors, such as longevity increases and associated rising personal health costs in old age and will affect the retirement outcome for large numbers of people with workplace and DC pensions. These are just a few factors that are reducing the ability of families to pass on wealth.
To put it another way inheritance values are at risk. Individuals considering their retirement plans now are more likely to have to self-fund any long-term health care they may need in later life. This will have to come from any retirement funds or assets they have, reducing the overall pot they have to live on and affecting intergenerational family wealth.
However, it is possible to mitigate these risks with the appropriate retirement, investment and tax planning, which is where can help. Berkshire IFA have decades of industry experience upon which to draw, which means we help our clients mitigate these potential risks to their retirement aspirations.
Contact us for a no obligation assessment of your retirement plans on 0118 334 3500, or by filling out this contact form
Sign up for newsletter updates!
Join our email list to receive updates and information.