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...
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