People seeking savings advice in Cheshire and Oswestry may be wondering how to best plan for 2026. A new survey has found that households across the country are increasingly building up ‘rainy day’ savings.
The study, commissioned by Pensions UK, revealed that 28% of those surveyed reported building up their savings, whilst over 25% have earmarked specific goals, such as a deposit on a new home or holiday. A further 20% planned on paying off debts.
Whilst at first glance this may concern the government in its campaign to get more people investing, other findings will be more welcome. Over 10% of people said they were planning on opening an ISA account, whilst others expressed an intention to invest in the stock market. The government has also sought to disincentivise ‘stockpiling’ by reducing the cash ISA ceiling to £12,000, and increasing taxes on dividends.
The survey also identified a significant increase in the number of people pursuing a more proactive approach to managing their pensions. Just shy of 30% of those asked said they were increasing their contributions, up from 20% the year before. Financial advisers have been urging people to consolidate their pension pots, with over 3 million still to be claimed across the UK. There is an estimated £31 billion sitting untouched.
Pensions UK director of strategic policy and research, Matthew Blakstad said the survey reaffirmed the importance of balancing immediate expenses with long-term financial planning. He stressed that pensions are a vital component of financial security and that simple measures today will be beneficial in the longer run.
