New York, November 12, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “United Kingdom (UK) Post – Retirement Pensions Market 2020” – https://www.reportlinker.com/p05982722/? utm_source = GNW
Current and historical data on the size of current retirement income products is provided. The report also examines how confident people are that their lifetime investments will last until retirement.
In addition, it explores the attitudes and behaviors of consumers regarding obtaining financial advice on pensions.
As a rule, retirees supplement the state pension with other sources of income, such as occupational and private pensions. Freedom of pension rules allow those over 55 to access their pensions in a flexible manner , but many are inadvertently putting their long-term savings at risk.
The majority of adults will have access to their pension funds as soon as they can. In fact, more than half of all pension jars are fully removed when first accessed.
Unexpectedly, withdrawals from pension funds plummeted in the first half of 2020 despite fears that COVID-19 will prompt individuals to take more funds. As economic uncertainty persists, rising unemployment among the elderly could push some people into early retirement.
– Nine in ten people say their retirement lifestyle is as expected or better.
– Income levies totaled £ 9.3bn in new premiums in 2019, nearly double the size of the annuity market at £ 4.3bn.
– 91.9% of retirees are convinced that their pension funds and / or savings will last a lifetime. This belief is largely unaffected by the COVID-19 epidemic.
Reasons to buy
– Find out how individuals access their retirement plans for the first time.
– Understand the size of income deductions and the annuity market.
– Explore the gender gap in public and private pensions.
– Find out to what extent people over 55 and retirees use retirement financial advice.
– Understand the impact of COVID-19 on the after-retirement market.
Read the full report: https://www.reportlinker.com/p05982722/?utm_source=GNW
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