Alliance Trust Retirement Confidence Index uncovers worried workforce
www.moneynews.co.uk > Pensions > Alliance Trust Retirement Confidence Index uncovers worried workforce
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Money News |
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Alliance Trust Retirement Confidence Index uncovers worried workforce
Fri 15th Sep 2006
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Its Retirement Confidence Index reveals that 12 per cent of people aged 30 to 50 have branded themselves 'totally unconfident' about their prospects of securing a decent standard of retirement living, compared to just 5 per cent of the under 30s.
And on top of this one in six Brits expects to hit retirement with less than ten years savings according to the Alliance Trust Retirement Confidence Index.
The Alliance Trust Retirement Confidence Index also highlights a stark retirement confidence gap between men and women, with men's expectations of a secure financial future being somewhat higher than women's.
Hyman Wolanski, head of pensions at Alliance Trust, said: "It's worrying to see that many in the prime of their working lives are most uncomfortable about their retirement prospects.
"While locking regular sums into a pension might often be put off in favour of more immediate financial demands, there is now much more flexibility than ever in how people can save in pension schemes for the future.
"It is, therefore, important that people are made aware of this flexibility so that, where possible, they can save more for their retirement in order to improve their standard of living in retirement."
Related News : Pensions |
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