Only 18% of consumers feel 'very' financially prepared for retirement. Even where confidence exists it tends to be shallow, showing scope to increase consideration of, and engagement in, the market for later life planning.
Only 18% of consumers feel ‘very’ financially prepared for retirement. Even where confidence exists it tends to be shallow, showing scope to increase consideration of, and engagement in, the market for later life planning.
The need to make provision for the future is sharpened by a ‘stable but fragile’ economic backdrop: while older consumers begin 2026 from relative stability, inflation is uncertain and growth remains weak, eroding the real value of savings for fixed-income retirees and intensifying the need for income certainty.
From April 2027, unused defined-contribution pension funds and most death benefits fall within the inheritance tax estate, already driving increased gifting, earlier drawdown and renewed interest in annuities, giving providers a legitimate, urgent reason to re-engage older customers.
Alongside economic pressure, procrastination and emotional friction are major threats to future financial security, with 55% feeling anxious about ageing and 58% agreeing that planning for later life can make them feel overwhelmed. The result is an abundance of intention but a scarcity of completed action. Consumers are willing to think about later life, discuss it and even seek advice, but engagement falls when an action requires them to formalise decisions, relinquish control or confront financial reality.
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