Retirement planning takes back seat amid cost of living crisis

Seven in ten people ‘have done little, if any’ retirement planning

Sahar Nazir
clock • 1 min read

Retirement planning remains a low priority for many people as the cost of living crisis focuses financial attention on short-term factors, according to a Standard Life report.

The provider's Retirement Voice report said individuals were not directing the same attention to their plans for the future as they were on their day-to-day spending as a result of the cost of living crisis. It also found that seven in ten people "have done little, if any" retirement planning. Just over a quarter (29%) said they had done a great deal of planning for their retirement. Standard Life said this figure had not changed over the last three years. People who took professional financial advice (50%) and those with a household income of more than £100,000 (48%) were the most...

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