Pre_Retirement People Anxious

Pre-retirement People Anxious

According to a new report from LV=, those facing retirement are more concerned than ever about their financial security and income in retirement.  The report reveals more than 4 in 10 people (42 per cent) fear that a recession will affect their wealth when they retire.  

Almost a quarter of those facing retirement are currently saving nothing at all, while just under half haven’t increased their savings despite having serious concerns about their own financial future.  One in 6 of those facing retirement has actually lowered their level of pension provision.

Our view

We have had ten years of sustained property growth and wealth building and essentially the good life.  People need to act now and take financial advice.

For people coming into retirement, inflation and recession and interest rate increases are not always a bad thing.  It will actually mean you secure a higher pension income in retirement.

Useful links:

Learn more about Get Pension Advice and related topics in the Pensions Adviser Channel 

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