Nick Homer: The new financial priority

'Dramatic shift'

clock • 3 min read

Nick Homer explores the ‘dramatic shift’ in workers’ financial priorities revealed in Zurich’s in-depth protection report. As pension saving becomes a priority for many, should protection follow?

The financial crisis was associated with mounting household debt, not just here in the UK but globally. Between 2008 and 2016, the median debt-to-GDP ratio in advanced economies grew from 52% to 63%, while emerging markets saw that figure soar from 15% to 21%, according to the International Monetary Fund. For years, the headlines of personal finance pages highlighted this financial vulnerability, detailing the stresses even well-paid individuals and families suffered when trying to pay their monthly bills, which often included spiraling consumer debts. But there seems to have been a q...

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