Three years on: Over-55s encouraged to save more by pension freedoms

Four-fifths (82%) want an end to pension tinkering

Victoria McKeever
clock • 3 min read

Around one in ten (11%) of workers aged over 55 said pension freedoms had encouraged them to save more since the rules came into effect in April 2015, Prudential has found.

In the last three years, this group said they had started saving into a pension for the first time, encouraged their partner to save more, increased pension contributions or restarted pension saving since the rules were introduced. According to the research from the provider, which surveyed 1,000 UK adults aged over-55 in February, one in eight (12%) expected to work past their original planned retirement date. Since the freedoms were introduced, one in seven (14%) had also made more effort to learn about retirement savings. Nearly two-thirds (64%), however, said they were confused...

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