Half of adults with health conditions face pension poverty, Scottish Widows finds

Half of UK adults living with physical or mental health conditions face pension poverty, according to the latest Retirement Report from Scottish Widows. 

Three in 10 adults have seen their work affected by health issues in the past five years, with 10% stopping work altogether, 7% reducing their hours, and 6% moving into less demanding or lower paid roles.

The report also found that a third (34%) of adults have not considered care needs in later life, and more than half (51%) are not confident they would be able to afford care if required. 

Among those with health conditions, two thirds (67%) lack confidence in paying for care.

Susan Hope, pension expert at Scottish Widows, said: “Navigating health challenges is something which many of us will have to face in our later years. 

“Whether it’s managing a chronic condition, mental burnout, or working through menopause, physical and emotional struggles often force people to change their working patterns, cut back their hours or drop out of the workforce altogether.

“This just doesn’t affect our day-to-day lives, it often knocks our long-term financial plans off track too.” 

Hope added: “The good news is that you don’t need to completely overhaul your life today to make a meaningful difference for tomorrow. Small changes really do add up.