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Vulnerability at Retirement

Updated: Nov 17, 2023



As people age, different types of vulnerability or vulnerable circumstances may present themselves, and as our ageing population continues to grow, it is worth us thinking about how these vulnerabilities might impact on those in retirement and later life. The years immediately leading up to and following retirement will see some of the biggest changes in our physical, emotional, mental and cognitive health. During this time, we will see a shift in our social networks, experience deterioration in our cognitive and physical abilities and feel the impact of life events on others more acutely than at any other time.


Here we look at some key facts and figures using the four different vulnerability triggers or drivers as identified by the FCA: health, life events, resilience and capability. And we align these with Atchley’s theory that the journey through retirement can be broken down into a series of phases: when retirement is far away; preretirement; the ‘honeymoon’ period; disappointment; reorientation; stability; and terminal.


These phases of retirement will occur at different times and ages depending on an individual’s circumstances, but this breakdown highlights the potential effects of the key vulnerability drivers on those in later life and thereby assist advisers in better understanding their retired clients and provide relevant ‘good outcomes’.


To read this table in detail, please click on the button below.















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