Retirement planning: What over 40s plan to spend cash and pension on | Personal Finance | Finance

August 4, 2021

But those looking forward to retirement haven’t forgotten about their children and grandchildren, as 23 percent said they will help their progeny get on the property ladder.

The desire to support their family doesn’t end there as 15 percent say they will pay for their grandchildren’s education so they won’t be carrying so much debt.

The pursuit of financial security is also relevant to those preparing for retirement as 14 percent say a priority is to clear their mortgage and nine percent needing to pay off unsecured debts.

Alice Watson, a spokesperson for Canada Life said: “It’s clear that we all have our unique goals for later life, and our own way of achieving them, whether that be using savings, pension or property wealth.