Holidays First Pension Last
Published / Last Updated on 25/11/2007
Defaqto
According to research by Defaqto, many people are saving towards their next holiday and not their retirement.
The report indicates that over a third of people are not saving at all towards their retirement, while the majority of people said that they were relying on the state pension for their retirement.
Our view
Although most people are planning to retire around the normal state retirement age, many will not be able to afford to do this and will have to delay their retirement, work on, save more or downsize their home.
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