Alliance & Leicester Savings: Over-50s still saving for retirement

www.moneynews.co.uk > Pensions > Alliance & Leicester Savings: Over-50s still saving for retirement

Alliance & Leicester Savings: Over-50s still saving for retirement

Tue 25th Nov 2008

Alliance & Leicester Savings has conducted a poll which reveals that many over-50s are still putting aside money for their retirement, despite the increasing strain that the credit crunch is putting on their resources.

More than eight out of ten respondents to the survey said they were still saving for their retirement, with 42 per cent saying that they had made sacrifices to ensure their comfort in the future.

Almost half of over-50s regret not paying more attention to their finances earlier and almost half said they would have to save for longer because they expected to live longer after they retired.

Hetal Parmar, manager for savings at Alliance & Leicester, said: "We all look forward to a comfortable lifestyle during retirement. The research is clear: saving today really does provide security for tomorrow."

Earlier this month, Martyn Bogira, defined contributions director at Prudential, warned that cutting back on pension contributions would have a "significant" impact after retirement.

Click here for more pension news

Related News : Pensions
	Over-55s don't believe in paying for care, reveals Aviva
	East Midlands comes top in pension contributions
	Corporate pensions provider issues advice for businesses
	One third of workers have no pension, claims Prudential
	More than a third of Brits fail to reassess pension risk, claim experts
	Women protest at No 10 over proposed pension reforms
	Retirement age 'to be brought forward by ten years'
	Interest rates held at 0.5 per cent by Bank of England
	Pension contributions fall in recession, ONS reveals
	Equity release for retirement 'might not suite every household'

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued

Related News : Alliance & Leicester
	Santander savings accounts 'offering 6% interest'
	Santander's pre-tax profits 'have risen by 30%'
	New guaranteed investment products from Abbey and Alliance & Leicester
	Recession 'has not dampened the ambition of young adults'
	New Alliance & Leicester Business Bank current account launched
	Alliance & Leicester 12-month business bond unveiled
	Alliance & Leicester 'to rebrand as Santander' next year
	Alliance & Leicester: 9-month fixed-rate bond launched
	Alliance & Leicester savings account returns
	Santander banks launch new bonds