Invesco UK Retirement Study 2024

Explore how innovative solutions reshape retirement income for UK retirees.

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This year's key themes

Retirement isn’t what it used to be. The shift from Defined Benefit (DB) to Defined Contribution (DC) schemes and new pension freedoms are reshaping how millions fund their retirement. Our study with NMG Consulting reveals insights from consumers, advisers, and experts, highlighting key opportunities for enhancing guidance and product innovation. To learn more about this year’s retirement study, watch the overview or explore the key themes below.

Theme 1
Navigating pension freedoms: The reality of retirement decision-making

Many retirees struggle with complex income decisions, leading to poor financial choices. This results in low yields, diminished tax advantages, and unnecessary frugality, reducing their overall quality of life.

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Transcript

Theme 2
Bridging the retirement advice gap in a DC-dominated world

Early retirement advice helps clients understand options and set realistic expectations. However, rising documentation and compliance costs limit access for lower-wealth clients; targeted support could improve access to guidance.                                                     

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Transcript

Theme 3
Rethinking retirement income solutions: innovating to meet the evolving needs of DC retirees

There is a need for more retirement solutions offering sustainable income, personalisation, and flexibility. Hybrid solutions can address the need for both guaranteed income and investment growth, while effective default options guide unadvised retirees through decumulation.

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Transcript

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Investment risk

  • The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

Important information

  • This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. Views and opinions are based on current market conditions and are subject to change.