W
hen Ian and Linda Duffield planned their retirement, they had dreams of a round-the-world cruise and maybe even a fancy car.
Ian had diligently saved into workplace and private pensions throughout his career at a large retail company and, as his salary increased, he put extra money into his and Linda’s Isas. This thorough planning, they hoped, would allow them to enjoy the spoils of a lifetime of hard work and saving.
But now, aged 71 and 69, their vision hasn’t materialised. They retired, but the cruise never happened and Ian ended up buying himself a second-hand car for £6,000.
“We are looking at a different retirement than we were expecting,” said Ian, from Manchester. “We’ve had to think more carefully about what we have, and all our plans were shelved.”
