'Concerning' number have stopped saving for retirement

Britons prioritise immediate financial security instead of saving

Isabel Baxter
clock • 1 min read

A “concerning” 13% of people have stopped saving for retirement, rising to 19% among those aged 55 and over, according to research from Chetwood Financial.

The research found that Britons are putting savings aspirations on hold to prioritise immediate financial security, amid cost of living pressures and fears over employment. Director of operations Sam Compton said: "It is concerning to see that a significant number of people are putting off saving in crucial areas like retirement or saving for a first home." The findings follow research from Schroders earlier this year which found two-thirds of people approaching retirement age are worried about the impact the cost-of-living crisis will have on their plans to retire. Despite this, A...

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