Research from Aptia, a leading provider of pension administration, consultancy and actuarial services, has revealed that more than 70% of people aged 55-70 who are considering retiring in the next five years are concerned their pension won’t keep up with the rising cost of living.
The research surveyed 500 UK adults aged 55-70 - 250 who have retired and receiving a pension from a previous employer, and 250 considering retiring in the next five years and will receive a pension from a previous employer.
Among those planning for retirement, household bills were the biggest financial concern, cited by 58% of respondents. This was followed by lifestyle costs (such as travel and hobbies) at 47%, and healthcare expenses at 32%.
Among retirees, concern about pension providing enough income lasting throughout retirement was lower at 37%. However, almost four in five people (78%) said household and utility bills had increased more than they had anticipated/budgeted for, and this was followed by lifestyle costs at 42%, and both housing-related expenses (inc. mortgage, rent and maintenance) and healthcare costs at 12%.
Malcolm Reynolds, Aptia’s UK President, said: ‘Our research highlights the financial uncertainty many people continue to feel as they approach and enter retirement. With rising household costs remaining a key concern, it's more important than ever that people understand how much income their pension is likely to provide and whether it will support the lifestyle they want in later life.
‘Taking a little time to review your pension savings, understand your expected retirement income and consider how that income aligns with future spending needs can help people budget more effectively and avoid unwelcome surprises in retirement.’
NOTES TO EDITORS
- The research was conducted by Opinion Matters, among a sample of 250 UK adults aged 55-70 who have retired and are receiving a pension from a previous employer and 250 UK adults aged 55-70 who are considering retiring in the next 5 years and will receive a pension from a previous employer. The data was collected between 03.06.26 - 09.06.26. Opinion Matters abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Opinion Matters is also a member of the British Polling Council.
- Founded to shape the future of pensions, health, and insurance solutions, Aptia is a leading UK pensions consultant and administrator, and employee benefits administrator in the US, and is dedicated to simplifying complexity for businesses and individuals. It brings together cutting-edge technology and deep industry expertise to help organisations navigate an evolving landscape with clarity and confidence.
- Aptia's UK business is the largest third-party pensions administration provider, serving more than 1,600 clients and over three million members. Its clients include trustees, master trusts and insurers, for whom it provides administration and consulting services across both DB and DC pension schemes.
- Aptia has made significant investment in current and emerging technologies, including artificial intelligence, automation and data-driven insights, ensuring it remains at the forefront of digital transformation and innovation within the pensions industry.
- Aptia has a presence in the UK, US, India. Aptia’s strength lies in the combination of smart technology and expert teams, ensuring that managing pensions, health, and insurance is more effective. By focusing on innovation, accessibility, and client success, Aptia helps businesses take care of their people, so they can focus on what they do best.
For more information contact:
Corinne Gladstone, Aptia Head of Corporate Communications & Public Relations.
Email: media.enquiries@aptia-group.com
Sam Emery/ Emma Murphy/ Robbie Lawther/Bruno Aldridge, Quill PR
Email: Aptia@quillpr.com
