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Bad preparation for retirement

Date 25 Oct 2007
Author The Editor

Many British workers fear they will have to work beyond retirement age due to a lack of financial planning. According to new research, a quarter of the UK population do not anticipate retiring before the age of 65. The research, by insurers Aegon, suggests a large number of people have failed to provide adequately for life after work.

Nearly half of those questioned (46%) said when it comes to money they live for the moment. One in five said they had no pension whatsoever, while 43% did not think they were saving enough to maintain an adequate lifestyle.

Despite this a sizeable number seemed to know how much they would need to get by. Almost a third put the figure at between £15,000 and £20,000 a year.



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