Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

The Institute for Fiscal Studies (IFS) is planning a pensions review following research which highlighted concerns about the "substantial risks" facing future pensioners. Watch video - https://youtu.be/_7_cd2UWUEg Summary ·        The multi-year review will examine the effects of changing economic conditions and public policies on the future of financial security in retirement, including how these effects differ by gender, ethnicity and across the UK. ·        The review will also consider the impact of changing demographics and longevity trends, as well as the impact on self-employed workers. ·        Reports will be shared over the next two years, with concrete recommendations and options for reform to be presented in Summer 2025. ·        IFS research revealed that 60% of middle-earning private sector employees who are contributing to a pension are saving less than 8% of their earnings. Additionally, nearly 90% are saving less than the 15% of earnings previously recommended by Lord Turner’s Pens