Friends Provident: Brits gloomy about retirement pension prospects
People in the UK are pessimistic about the value of their retirement pensions, according to research published by Friends Provident.
Friends Provident has published research which reveals that many people in the UK are pessimistic about whether their personal pension plans will be enough to live off in retirement.Nearly two-thirds of the people who responded to Friends Provident's survey claimed that they are worried that their retirement pensions will not provide enough for them to live comfortably.
Fewer than half of respondents said they believed they have made adequate financial provisions for their retirement.
Keith Haggart, director of lifetime mortgages at Prudential, recommended that people who are worried should seek pensions advice.
He added: "Rather than struggle through what should be some of the best years of their lives, anyone approaching retirement or who has recently retired should talk to a financial adviser."
Recent research by the Alliance Trust revealed that old people face a higher rate of inflation than the general population, which means they have proportionally less disposable income on average.
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