Lucy Alderson

Jun 7, 2024 | thetimes.com | Lucy Alderson

Kay Warner is 37 and does not have a pension. Like many people, she plans to fund her retirement with property. Many say that their property is their pension, with 18 per cent of 58 to 80-year-olds surveyed by the pension firm Standard Life saying that they were banking on their home to fund a retirement. But is it really possible to plan your income around house prices? We weigh up the pros and cons.

Jun 1, 2024 | thetimes.co.uk | Lucy Alderson

A lack of savings, loneliness and love of the job are some of the reasons that more people are working beyond retirement age. The default retirement age of 65, when employers were forced to make workers retire, was abolished in 2011, and the state pension age is now 66, rising to 67 between 2026 and 2028. A record 1.37 million people aged 65 and over were still in work last year, according to the Office for National Statistics (ONS) — about 835,000 more than in 2004.

May 31, 2024 | thetimes.co.uk | Lucy Alderson

Sakthi Sena has made more than £14,300 from renting out her clothes to strangers. She’s hoping to get to £30,000 in the next two years — enough for a deposit to buy her first home. Sena, from Manchester, started renting out her clothes in July 2022. “I was walking past a shop and saw this beautiful rose-print dress. It was really pretty, but it was £169 and I couldn’t justify the price,” she said.

May 25, 2024 | thetimes.co.uk | Lucy Alderson

Paul MacKenzie-Cummins is 51 and has not saved a penny into a pension. He didn’t opt into a workplace pension scheme in the early stages of his career and, when he went freelance in 2006, saving for retirement was not a priority. “In my twenties and thirties, I didn’t care about a pension. I had 40 or 50 years until retirement and wanted to keep money in my bank account, get a house and enjoy life,” said MacKenzie-Cummins, from Crowthorne in Berkshire.

May 24, 2024 | thetimes.co.uk | Ali Hussain |Lily Russell-Jones |Lucy Alderson |David Brenchley

There is less than six weeks until the general election on July 4, so it is time to get your finances in order. If Labour win, it could mean big changes to pensions and private school fees. If the Conservatives keep control, expect more changes to tax as it considers phasing out national insurance altogether. We look at how you can prepare:The amount of tax we pay has increased under the Conservatives as basic and higher rate income tax thresholds have been frozen since 2022.