Early retirees lack confidence in pension savings lasting

Nearly half of early retirees are not confident their private pension savings will last, according to a new study, raising concerns about financial security in later life. The Aviva and Age UK survey found only 48% of 65- to 75-year-olds feel secure about their pension's longevity. The research also revealed that most respondents value a guaranteed lifetime income, with women expressing greater anxiety about potential income drops. The study, conducted in late 2024, highlighted a lack of support for managing finances in later life, with two-thirds believing insufficient help is available. The organizations suggest regular financial reviews, including a "mid-retirement MOT," to address these concerns.