Half of advised clients struggling to top up pension savings, research

Short-term savings are priority

Carmen Reichman
clock • 2 min read

Almost half of advised clients would find it hard to save more into their pension than they currently do, research has claimed.

Royal London's Pensions Through The Ages: Feeling The Squeeze asked 150 financial advisers about the challenges facing clients aged 35-44 when considering saving for their retirement. It found 45% of clients would struggle to increase their savings for later life, while more than half would prioritise reducing their debts or easing financial pressure, should they find some spare cash, according to their advisers. Advisers deemed the majority of clients to be at least somewhat engaged with retirement saving but said the problem was many people had more pressing financial needs than sav...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pensions consultancy calls for 'fairer' Financial Ombudsman Service

Pensions consultancy calls for 'fairer' Financial Ombudsman Service

First Actuarial says pension redress sitting at ‘historic low’

Holly Roach
clock 04 April 2025 • 1 min read
FCA outlines thinking on using pension pots for house deposits

FCA outlines thinking on using pension pots for house deposits

FCA CEO Nikhil Rathi ponders radical thinking on pension savings

Jonathan Stapleton
clock 02 April 2025 • 3 min read
IFS: Growing DC market needs reform to help savers manage risks

IFS: Growing DC market needs reform to help savers manage risks

Savers facing ‘stark’ challenges managing DC pots in retirement

Martin Richmond
clock 02 April 2025 • 6 min read