Retirement Income: 1.8m Risking No Pension

Retirement income is being passed over to invest instead in shares, unit trusts, ISAs and PEPs.  Research commissioned by Lincoln Financial Group has revealed more than 1.8 million savers are foregoing the long term benefits of pension schemes and risking their retirement income and may have no pension.

The research revealed that just over a quarter of those aged 55 and over who invest in shares saw their investments as an alternative to their retirement income and risk no pension.  Despite the recent volatility, a fifth of those were considering increasing the money they have invested in the stock market and risking no pension.

Our view

Retirement income and long-term investment is the key to successful pensions and the retirement income aspirations of savers.  People heading for retirement playing the stock market for retirement income are playing a very dangerous game and risk no pension.  Pensions are the ideal and perhaps only way to deliver stability for retirement income in retirement.

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