Concerns raised over funds in pensions and savings accounts
A significant number of Brits are concerned that their pensions and savings accounts will not provide them with enough money for retirement.
According to a new survey by the National Association of Pension Funds (NAPF), just 34 per cent of people believe that the savings they have put aside will not allow them to live comfortably in their later years.
The news comes on the same day as a survey by the Foreign and Commonwealth Office found that 42 per cent of people aged 55 or over were considering moving overseas, with many intending to do so in the next five years.
Concerns were also raised in the NAPF research about pension funds running out while people still needed them, with 26 per cent stating they would like a guarantee that they would be provided for until they died.
However, only 17 per cent of people are planning on increasing their contribution to their pension this year and eight per cent are reducing or stopping payments.
Saving money for retirement was still considered to be a better form of investment than property.
Posted by Andy Price.