Near-retired 'envious' of current retirees' pension wealth

1 in 8 not saving for retirement

Hannah Godfrey
clock • 1 min read

Pension savers in their final years of work admit to being jealous of the pensions and lifestyles of those who have already retired, research from Prudential has found.

Those not yet retired are concerned they won't be able to match the living standards of current retirees, with 54% saying they will be worse off when their times comes to give up work.   The pensions provider found half (50%) of the 744 respondents to its survey who are in the final 10 years of work admitted to being jealous of the older generation's pension wealth. At the same time, while just more than a quarter (27%) of those pre-retirees have been saving into a pension since they started work, one in eight (16%) admitted they are not saving into a pension at all. However, the r...

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 Retirement

How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read
Pension tax rules uncertainty shows 'need to shift retirement planning'

Pension tax rules uncertainty shows 'need to shift retirement planning'

Needs to include wider considerations of capital drawdown beyond pensions

Isabel Baxter
clock 24 October 2024 • 2 min read
Looking ahead of the Budget: Implications for retirement planning

Looking ahead of the Budget: Implications for retirement planning

Advisers must ‘balance client demands with prudent advice'

Isabel Baxter
clock 18 October 2024 • 4 min read