Retirement readiness
Supporting the person behind the pension
For many Defined Contribution (DC) savers, retirement planning isn’t just a financial task – it’s a juggling act. Limited knowledge, low confidence, and competing life priorities often push it aside, leading to delayed action or misguided decisions.
The value of an investment and any income taken from it is not guaranteed and can go down as well as up, and the investor may get back less than the original amount invested. This financial promotion is issued by Legal & General Investment Management Ltd. Registered in England and Wales No. 02091894. Registered office: One Coleman Street, London EC2R 5AA. Authorised and regulated by the Financial Conduct Authority.
Savers under pressure
Financial caring
A competing challenge1
The lottery effect Retirement regret2
Cashing out challenges3
Discover what the data tells us
Financial caring: A competing challenge1
Only 25% understand how pensions work.
UK adults (16%) act as financial carers for older or vulnerable relatives.
8.4
MILLION
supporting a relative aged 70.
36
The average financial carer is
One in 10 have accessed pension savings early to cover care-related costs, while 7% expect to delay retirement by five years or more.
1. Survey conducted, on behalf of L&G, by Opinium between 25 July – 2 August 2025, among 4,000 UK adults. Visit the newsroom to read our research press release.
The lottery effect: Retirement regret2
Of those with regrets, 11% didn’t understand the impact of their decisions.
regret accessing their savings or overspent.
Many retirees face nine years of unfunded retirement due to overspending.
14%
saw their pension lump sum as a “bonus” not part of long-term planning.
15%
2. Research conducted, on behalf of L&G, by Opinium between 3rd-9th December 2024, among 3,000 UK over 50s. Visit the newsroom to read our research press release.
withdrew funds without any formal advice.
58%
Cashing out challenges3
One in five would withdraw less – or none – if given the choice again.
Many faced unexpected tax bills, lost benefits, higher fees, and missed investment growth.
didn’t realise lump sums could affect means-tested benefits.
24%
withdrew lump sums at age 55; 10% took out their entire pot.
21%
3. Research conducted, on behalf of L&G, by Opinium between 3rd-9th December 2024, among 3,000 UK over 50s. Visit the newsroom to read our research press release.
Financial caring
Cashing out challenges
The lottery effect
Financial caring
Cashing out challenges
11%
Financial caring
Cashing out challenges
10%
The lottery effect
The lottery effect
Financial caring
The lottery effect
Cashing out challenges
Financial caring
The lottery effect
Cashing out challenges
For professional clients only. Capital at risk.
1.Survey conducted, on behalf of L&G, by Opinium between 25 July – 2 August 2025, among 4,000 UK adults. Visit the newsroom to read our research press release.
2&3. Research conducted, on behalf of L&G, by Opinium between 3-9 December 2024, among 3,000 UK over 50s. Visit the newsroom to read our research press release.
Discover what the data tells us