Post-lockdown boost to financial wellbeing fades

Continuing impact on people’s physical health and financial wellbeing
The coronavirus (COVID-19) pandemic has had, and will continue to have, a major impact on our lives. It is not just impacting on people’s physical health but also their financial wellbeing. The economic consequences of the COVID-19 outbreak for some people will make it harder for them to achieve their financial goals.

Generation vexed

A third of Gen Xers not confident they can fund their retirement
One in three (31%) Generation X members (those born between 1965 and 1980) do not feel confident they will be able to work for as long as they need to fund their retirement needs, due to concerns around health and age.

Pandemic triggers 
shift to saving

People thinking more about their spending and financial priorities
The coronavirus (COVID-19) pandemic has lead to more people re-thinking how they spend and manage their money, with more than half (51%) now prioritising saving for an unexpected event or loss of income, research published suggests[1].

Planning for 
early retirement

What are the financial consequences to stopping work in your 50s?
Early retirement may be the ultimate dream for some, but the coronavirus (COVID-19) pandemic made it the only option for many. Figures from the Office for National Statistics show that over-50s had the highest redundancy rate between December 2020 and February 2021[1].