A PIONEERING online initiative to help retired people and those nearing retirement to make the most of their finances has been launched by Skipton Building Society.

Through retiresavvy.co.uk, the mutual aims to help people prepare for retirement by offering information, real-life case studies and peer to peer support and discussion through a live forum.

The Society says the move will help tackle one of today’s most pressing issues – 'retirement readiness'.

Through a combination of blogs, editorial pieces and expert tips, Skipton aims to help with issues such as how much money people need to retire; how much their should pay into a pensions; planning for early retirement and how to manage their time during retirement and planning for a legacy after death.

David Cutter, Skipton chief executive, said Retiresavvy would help to demystify retirement through enabling people to ask questions and join in debates and become better informed through a live forum.

Contributors to the site include respected bloggers and award-winning journalists. The forum will conduct regular polls to find out what matters to users as well as providing bite-sized hints and tips from industry experts.

Downloadable guides and links to trusted sources of other help and information will also be available.

Mr Cutter said: “Retirement is a major social issue of today. In a landscape characterised by uncertainty, changing government legislation and increasing life expectancy, today’s 50-plus generation could be forgiven for not knowing where to turn.

“We’re already doing something about this, with our Retirement Review Service, to help people to picture and plan towards their futures, but we want to do even more.

“Now we’re proud to add retiresavvy.co.uk to our range of tools that help people planning their retirements. We aim to help plug the huge gap in retirement information that exists in today’s society, despite the growing complexity and urgency of this issue.”

Launching retiresavvy.co.uk followed research by SBS which showed that 39 per cent of people were not confident in their own financial plans for retirement. Two in five said they are underprepared for their retirement.

The Society launched its Retirement Review Service last year in direct response to this feedback.