The world of work and retirement is changing fundamentally. Many people today will have more than one job during their working life and more flexible and part-time working positions are available. Added to this is the good news that people are generally living longer, with a report from the Office for National Statistics confirming that centenarians (people over 100 years old) are the fastest growing age group.
At the same time, the structures of financial provision for retirement are changing to a regime in which each individual is expected to take responsibility for their own provision. Even where the state and the employer do make retirement provision available, the individual has important decisions to make, if full advantage is to be taken of the opportunities available and if retirement provision is to be adequate.
A study by the Life Academy has confirmed that there is a correlation between financial capability and wellbeing , and also reported that many of us are experiencing the negative effects caused by financial difficulties, with 89% of respondents reporting they worry about debts most of the time.