11th July 2022
Reaching Historic Highs
According to new research[1,] only two out of five (37%) over-55s have planned for the impact of inflation on their spending power when they retire.
As consumer price inflation remains at historic highs, many over-55s who are approaching or have retired face an inflation shock as they try to manage their retirement income. Indeed, 41% admitted they had not planned for inflation or were unsure if they had. The remaining 22% say they have not planned their retirement income at all. Surprisingly, the current debate over inflation has influenced people’s attitudes toward retirement, with 43 percent of those working full-time planning to factor this challenge in, up from 39 percent of those who have already retired.