If you have little idea how to prepare for retirement, then join the club. Nearly half (47%) of working age Brits are a bit lost when it comes to their pension savings•
Research has also revealed that just 28% feel secure in their understanding of how to manage their pension in the run-up to retirement, while even fewer (27%) have an idea of what a ‘good’ amount of pension savings is for someone their age.
‘On the back foot’
The gender pension gap once again rears its ugly head in the study, with women almost twice as likely (21%) to say they feel completely ‘on the back foot’ more than men (12%). They are also more than twice as likely to lack understanding of how to manage their pension as they approach retirement (34% of women vs 14% of men).
Approach retirement with confidence
Managing Director at Aviva, Mary Harper, commented, “It’s very easy to put thoughts about later life to the back of your mind but investing time in thinking and planning ahead can make a world of difference to your options… evidence suggests that people who access financial advice are, on average, tens of thousands of pounds better off in the long-term.”
We can offer expert advice and guidance to help you manage your pension with confidence.
•Aviva, 2021
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
