Prudential urges savers to get involved with partners' retirement calculator details

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Prudential urges savers to get involved with partners' retirement calculator details

Fri 27th Aug 2010

A finance expert from Prudential has labelled it "astonishing" that more people are not taking an active role in their partners' retirement savings strategies.

Investments director at the firm Andy Brown encouraged individuals to try to have constructive discussions with their husband or wife to clarify how they intend to save for old age.

These comments were made after it was found that 32 per cent of Brits aged 40 or above admit they do not know or understand their partners' pension details.

He said: "Adults are banking on hope as their core retirement strategy and are approaching what is arguably the most important financial decision without a full understanding of their household financial situation."

Mr Brown claimed it is harder for couples to form an effective retirement plan if they leave it until later in life.

Last month, Prudential deputy chief executive Barry O'Dwyer applauded the government's annuities consultation, suggesting it will help offer consumers more flexibility.

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