Prudential: Britons worried about retirement funding

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Prudential: Britons worried about retirement funding

Thu 1st Mar 2007

Worries about whether they have saved enough is one of the biggest concerns for older people in the UK, according to new research carried out by Prudential.

The group's advisor opportunity survey indicates that some two fifths of financial advisers say that retirement savings represent the biggest cause of worry.

Other matters which were deemed to be pressing among consumers by financial advisers included inheritance tax, cited by 16 per cent of advisors, while investments were also highlighted as being a problematic issue for consumers.

Ali Crossley, director of lifetime mortgages at Prudential UK, said: "Retirement planning is clearly still a core focus and people are increasingly realising that they may not have saved enough to support them when they retire."

Ms Crossley also encouraged consumers to start being proactive about their savings to ensure that they were not in a financially precarious situation when retirement loomed.

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