Millions of people who identify as ‘squeezed' savers are neglecting pension planning as they struggle to pay bills and meet everyday commitments, Royal London research has found.
The provider's second Pensions Through The Ages Report, Feeling the Squeeze showed 34% of people aged between 35 and 44 are focused on paying for the ‘here and now', with retirement planning and saving low down their list of priorities. The report said the UK had about 2.4 million 'squeezed' savers. However, the research also found 45% of these plan to speak with a financial adviser in the future. Royal London identified four clear groups from the 2,500 people surveyed. The firm labelled their attitude to their finances as ‘squeezed' (34%), ‘manageable' (37%), ‘comfortable' (23%) and ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
