Over-40s feel financially 'out of control', research finds

Clear evidence for value of advice

Carmen Reichman
clock • 3 min read

More than half of people approaching pre-retirement age have not made any plans for the financing of their later life, with those in their forties particularly at risk, research has suggested.

About 54% of people in their forties and 49% of those in their fifties have "not done anything" to plan their retirement, research by Aviva found. The insurer found about one in five people in their forties - the group most likely to be under financial pressure - felt "mostly or completely out of control of their lives". In this age group only 18% said they have spoken to a financial adviser, and 10% have made a full financial plan, Aviva said. The insurer surveyed 6,000 people aged 30 plus in September last year as part of its Voice of New Retirement study, which measured people's...

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 Pensions

British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read
SSAS and the general levy: A victory for common sense

SSAS and the general levy: A victory for common sense

The value of SSASs after general levy consultation outcome

Caitlin Southall
clock 26 March 2024 • 5 min read
Pension dashboard operators join forces to push project forward

Pension dashboard operators join forces to push project forward

Coalition aims to bring 'dashboards to consumers as early as possible'

Jasmine Urquhart
clock 25 March 2024 • 2 min read