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14/03/2012 13:59:16

Golden age over, younger Britons believe

Just a quarter of people in the UK believe they will be better off than their parents when they retire, according to a new study.

New research from global asset management company Schroders reveals that, furthermore, 44 per cent of people believe they will actually be worse off in retirement than their parents.

Schroders says that the next generation of retirees is jealous of the perceived "golden generation", which has benefitted from property gains and generous pension schemes.

James Rainbow, the head of marketing in the UK at Schroders, said: "There is a fear amongst many in employment that their standard of living and income will drop dramatically in retirement.

"Millions … recognise they will need to work longer and invest more."

In response, 27 per cent of private pension holders have increased their monthly contributions in the last 12 months, Schroders found.

Those looking to secure their future should consider seeking the help of a qualified financial adviser.

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