Are you relying on an investment windfall to fund your retirement?

If you answer YES to this, you are not alone, another 9 million people in the UK are also.

Nine million relying on a windfall to fund retirement

More than nine million workers – almost one in five of the population – are relying on some sort of windfall to fund their retirement years, according to new findings from LV.

According to the report, more than two in three Britons expect their savings pots to be underfunded by the time they retire, or worse still have no idea if they will have sufficient retirement savings in place or not.

Even more worryingly, 3.6 million workers today are counting on a lottery win to pay for their retirement, despite the odds of winning standing at over 14 million to one.

A further one in fourteen are relying on some sort of inheritance to cover their living costs in old age, while the hopes of one in twenty rest on the value of their homes increasing substantially.

Higher earners in particular have not considered the future, with almost two in five of those earning over £40,000 a year admitting they are relying on some sort of retirement windfall, compared to one in four of those earning under £40,000.

original article: https://www.moneyadviceservice.org.uk/en/articles/nine-million-relying-on-a-windfall-to-fund-retirement

Maple Leaf Financial

Whether or not you have already surrendered the policy or whether or not you believe there is a problem with them.

Although ours is a relatively new company, our team has many years of experience and success in knowing how to win the best compensation for you.

Each case is different and they are all assessed individually. Sometimes we can claim because investments were simply unsuitable and they were mis-sold. In other cases it may be because of technical shortcomings in contracts, regulatory issues or a combination of these factors.

‘Most of our clients had no idea there was a problem with their policies or investments before they spoke with us. You have nothing to lose by calling us to find out about your own arrangements.’

 

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Tim Capper

Bringing you financial news and information in plain english for Maple Leaf Financial. My aim is to help readers understand these often complex financial instruments.