Only 28% of Cohabiting Couples Plan Joint Retirement, Far Below Married Partners

Q: With new laws pending, what single document can protect an unmarried partner's financial future right now?

A cohabitation agreement is the single document that can best protect an unmarried partner’s financial future right now. That matters because, unlike married couples or civil partners, cohabiting partners generally do not get automatic legal rights over property, inheritance or financial support. The Scottish Widows research highlights the gap in planning, and the wider legal backdrop makes it risky: the long-standing “common law marriage” belief is largely a myth in England and Wales, and unmarried partners can be left exposed if a relationship ends or one partner dies. A cohabitation agreement is designed to deal with that problem directly. It can set out who owns what, how bills and debts are shared, what happens to a home or savings if the couple separates, and how each partner’s financial interests are protected. In practice, it gives couples a clear legal framework now, rather than waiting for proposed reforms on cohabitation rights to become law. It is not a complete substitute for wider planning. Unmarried couples should still make wills and update pension, life insurance and death-in-service beneficiary nominations, because a cohabitation agreement does not automatically give inheritance rights. But if the question is which single document offers the clearest immediate protection for an unmarried partner’s financial position, the answer is a cohabitation agreement.

1 articles · Updated · FT Adviser · Jul 8

Scottish Widows found just 28% of cohabiting couples plan for retirement together, versus more than half of married couples and civil partners.
The gap points to weaker joint financial planning among unmarried partners, leaving many households less coordinated on long-term savings and retirement decisions.
The findings highlight a broader divide in retirement preparedness tied to relationship status, with cohabiting couples lagging formal partnerships in shared planning.

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FT Adviser12h ago

Scottish Widows: Only 28% of Cohabiting Couples Plan Joint Retirement

Why do one in five married couples leave thousands in free retirement money on the table each year?

Are millions of unmarried couples unknowingly heading toward a retirement disaster without common law marriage protections?

With new laws pending, what single document can protect an unmarried partner's financial future right now?

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FT Adviser12h ago

Scottish Widows: Only 28% of Cohabiting Couples Plan Joint Retirement

Only 28% of Cohabiting Couples Plan Joint Retirement, Far Below Married Partners

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