UK remains tight-lipped about finances, says Scottish Widows

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UK remains tight-lipped about finances, says Scottish Widows

Tue 26th Jul 2011

A survey from Scottish Widows has found that finances are the least discussed issues between people in the UK.

Financial matters were found to be the lowest talked about topic between work colleagues (at 62 per cent) and friends (43 per cent), with 23 per cent of those polled saying they would not discuss such issues with their family either.

However, the study suggested that younger generations may well be breaking this trend, which is "encouraging" according to Catherine Stewart, savings expert at Scottish Widows.

She added: "It is a very British trait to avoid discussing personal and taboo subjects such as money, particularly for the older generations."

The poll comes as the latest edition of the Organisation for Economic Co-operation and Development's (OECD's) Pensions Market in Focus report showed that by the end of 2010, most European pension funds had recovered more than 80 per cent of the money they had lost in 2008.

Despite this, the OECD warned increasing market worries this year are making the outlook more unclear for pension holders.

People considering taking out a policy might wish to use a pension calculator to gauge affordability and pricing.

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