Retirement calculators users nervous, suggests Aviva

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Retirement calculators users nervous, suggests Aviva

People in the UK over the age of 55 have been left feeling nervous about their future, a representative from Aviva has stated.

Clive Bolton, 'at retirement' director at the organisation, explained that many individuals have responded to the emergency Budget and comprehensive spending review by assuming they will receive less government support.

"Over the last six months, we have seen a significant increase in the number of over-55s who are worried about the rising cost of living," said Mr Bolton.

He noted that inflationary pressures are weighing heavy on a lot of people's minds and plenty of savers in this age group have altered their spending as a result.

His comments were made after Aviva published research showing the rising cost of living is the biggest fear over the coming six months for 74 per cent of over-55s asked in a poll.

This week, the firm also released a report suggesting more people will decide to continue working into old age when the default retirement age is removed.

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