Best Financial Advisors in Blackburn

Local Pension Advisors survey Your Local Pension Advisers at CCFPS are always on the lookout for the latest market insights. In the latest annual survey by Interactive Investors (The Great British Retirement Survey 2022), responses showed that people continue to overestimate their pensions. The survey showed that despite the average income of over 65’s being just over £16,000, most people thought that their pensions would be worth over £21,000. A 30% overestimate. The survey also revealed that: • 60% have no idea what their pension income will be and only 10% actually know the true value. • 25% said they knew “nothing” about how pensions worked! Obviously, an opportunity for their local pension advisors. • 50% of women are entirely dependent on the state pension for their income, compared to 30% of men. • The average target age for retirement is now 62 years old. • 60% said the rising cost of living was their biggest concern. • Over 20% said they had given a gift to their family members to help them get onto the property ladder. Mainly for mortgage deposits. • Over 20% of people have cut their working hours because of ill health. • Almost 15% cut their hours because they were caring for family members.