Adults eye 'second' pensions amid retirement income fears

Laura Miller
clock

More than half of UK adults are creating secondary pensions savings and investments, as inadequate retirement pots create fear about living longer on less, Prudential research suggests.

According to the provider's 'Class of 2010' survey, 55% of respondents say they are taking steps now to boost their retirement funds. Around a third (36%) of the 2,000 adults say they will use additional cash savings to supplement their retirement income. Almost one in three (31%) already have or plan to boost savings with Additional Voluntary Contributions (AVCs) offering the same or better tax breaks as a regular pension. Stocks and shares were the next most popular supplement to pension income (17%), while 15% plan to downsize their homes and release equity, according to the re...

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 uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •