Pensions calculator 'could lead to happier retirement'

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Pensions calculator 'could lead to happier retirement'

People who have appropriate saving plans in place to ensure they are financially stable during later life could be reassured by new findings from HSBC.

Findings from the bank's Future of Retirement: The Power of Planning report have revealed individuals who have a stable pensions plan enjoy a happier retirement than those who do not prepare for old age.

This comes as statistics acquired as part of the report revealed that 49 per cent of participants expect they will be worse off than their parents when they reach retirement age.

In addition, 17 per cent of people questioned claimed they did not know what their main source of income would be, with a further 21 per cent predicting they would rely on a state pension.

David Wells, head of investments, pensions and savings at HSBC, said: "People need to look around and take proper stock of what they need to do - they can no longer totally rely on the state or their employer to provide for them."

The recent report also revealed that people living in developing Eastern countries were beginning to focus more on their future by developing pension plans.

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