Quarter of savers concerned about financial health in retirement - PLSA

'People aged 35 to 54 most worried'

Julia Bahr
clock • 2 min read

A survey from The Pensions and Lifetime Savings Association (PLSA) has suggested that a quarter of savers (26%) who have a workplace pension are concerned their current level of pension saving will not offer them enough to live off when they retire.

PLFA said UK households were feeling the pinch off the back of the cost-of-living crisis, war in Ukraine and two years of Covid-19 restrictions, and reported long-term concerns as to their financial health when they stop working. It found those aged between 35 and 54 (29%) were most worried they would not have enough savings to live off, compared to those aged over 55 (20%). A third of women were concerned (31%), compared to one-in-five men (21%). A third (35%) of those in low-income households - whose total income is up to £14k - and 31% with an income from £14k to £28k also expresse...

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