28 March 2019

Financial planning "must keep up" with changing circumstances as marriage rates for older couples rise

4 min read

Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings


Commenting on today’s statistics on Marriages in England and Wales, Clare Moffat, head of business development at Royal London Intermediary, said:

“The data shows important shifts in how we live our lives. Marriage rates at younger ages continue to fall while we see marriage rates rise for men over the age of 60 and women aged over 50. Added to this, people increasingly look to cohabit before getting married. Financial planning must keep up with this changing picture if both partners are to be protected from financial shocks should a partner die.”


  1. There is no such thing as common law marriage and cohabiting couples can find themselves with nothing should the relationship end or a partner were to die. It is vital to keep wills up to date.
  2. Cohabiting couples will also need to check their entitlement under pension schemes as it may not be same as for a married couple and restrictions can apply.
  3. Cohabiting couples do not benefit from the same inheritance tax treatment as married couples so could find themselves facing unexpected tax bills.
  4. Couples marrying at older ages, particularly if they have been married before, must update their wills to reflect their changing circumstances.
  5.  Documentation such as expression of wish forms on pensions should be checked to ensure the right person receives their death benefits.

Notes to editors:

Marriages in England and Wales 2016 can be found here


For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.

At Royal London, we’re proud to champion the value of impartial advice. We believe it plays a crucial role in connecting people with the products that are right for them – and is key to delivering better outcomes and experiences for our customers. At the same time, it helps to build trust in our products and services.

Royal London works alongside advisers not in competition with them. That’s why we’ve made some key commitments to the intermediary market. You’ll find more detail on our commitment to advisers at http://adviser.royallondon.com/campaigns/our-commitments/