Watch out for this unexpected financial shock in retirement


This 573-word blog post considers what would happen to household income when one spouse dies in retirement, following changes to the state pension system in 2016. Written on 30th June 2019.

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Article preview: Retirement can be a risky time. There are many risks to navigate in later life, including those which can impact your financial health. Added to that list is a potential financial shock that comes about as a result of a little-noticed change to the state pension system. The risk, identified by insurer Royal London, follows a state pension system charge in 2016. That change could result in older couples facing an unexpected financial shock when one of them dies.