Half of all Brits are 'too lazy' to save

clock

New research indicates lazy Brits have only themselves to blame when it comes to inadequate pensions retirement sums.

Research commissioned by Scottish Widows, questioning 4236 UK adults, finds the propensity to save is NOT linked to an individual’s salary or earnings as one-third of those people not saving earn in excess of £30k annually. The pensions provider finds only half (55%) of Brits are saving enough to provide adequate retirement funds, dropping to 30% after deducting those people attached to final salary pension schemes. Moreover, those workers not attached to such schemes and aged over 30, are only putting 9.3% of their income towards their retirement annually, with Scottish Widows estimat...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read