Most wait until 50 before planning retirement - Skandia

The findings also revealed that the realization that the state pension is insufficient is not dawning on the baby boomer generation until late in life. In the survey of 1,641 consumers in their 50s and 60s conducted by Marketing Sciences, 84pc considered the state pension insufficient to live on in retirement, while almost two-thirds (63pc) agreed with the statement 'our generation expected the state pension was all you would need to live on'. Consequently, there is now an alarming gap between these consumers' perception of retirement and the reality of their financial situation. Of t...