Half of over-40s have 'basic' retirement understanding - Just Group

The research also showed one in 14 (7%) of those over 40 have a high risk of making poor later-life financial choices. Half (50%) of people have enough basic understanding to be considered low risk, Just found, while 43% lacked some knowledge and so were deemed medium risk. The remaining 7% were considered high risk, which the group said reflected poor understanding of longevity and state pension provision. The retirement risk index, which has been set up to examine how prepared the British public are to make decisions on their later-life finances, highlighted how the knowledge or int...