Four out of five people unhappy with pension fund

By Kieran Drew
In September 8, 2017
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Almost 30% of people over-55 are unsure if they will be able to retire on their current savings, recent research in the Financial Times has shown.

Four out of five Brits are unhappy with the amount they save into their pension every month, while one in four people regret not starting to save for retirement earlier in life.

Nearly nine out of ten think there is not enough information about pensions available to them and a quarter believes that the information available is too complicated to understand.

It is becoming increasingly evident that there is a lack of pension knowledge among UK adults; with fewer than one in 10 confident they have a thorough understanding. In fact, nine million people in the UK or a fifth of the UK adult population save absolutely nothing.

Automatic enrolment has undoubtedly been a success for millions of UK adults who have started saving towards retirement for the first time, with four in five people planning to stay enrolled; but we still have a long way to go in making sure that individuals don’t face a retirement of financial hardship.

It is important to educate people on the benefits of saving for retirement and once they begin to save to ensure that it is invested in a way that will provide maximum returns for when they decide to retire.

If you are interested in learning more, please call the office on 01489 877547 for a FREE Initial Meeting.

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