Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

17/08/2012 13:02:20

Financial crisis causes retirement uncertainty

A new study has revealed that 40 per cent of people in Britain don't know when they will be able to retire.

Barings found that even among British adults aged between 55 and 64, who are close the state pension age, 44 per cent are uncertain when they will be able to stop working.

This is in dramatic contrast to when the same survey was conducted in 2008, before the financial crisis started. Back then, just one per cent of people in that age group said they did not know when they would retire.

In response to these findings, Marino Valensise, chief investment officer at Baring Asset Management, had the following retirement advice: "It is essential that the benefits of a pension are understood to avoid further generations of pension poverty.

"While financial demands extend beyond saving for retirement, starting to build a pension early in your working life is absolutely key to ensuring a comfortable retirement."

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