Three Million People Have No Plans to Retire
Nearly a Third Have No Pension
Without Shame I repeat in Mass
this
report by Emma Woollacott. This affects millions of people. After
reading this lengthy and depressing report an offer of help.
How to take Action and Help
themselves obtain a better life.
- By Emma Woollacott, Nov 24, 2015
- Updated: November 25, 2015 4:15 AM
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| David Gould |
Almost a third have no formal pension at all, with women in a more precarious position: while 23% of men have no pension, it's 38% for women. Fewer than half of 18-24 year olds have started a pension.
However, the situation's improving slightly, says Baring Asset Management:
while 38% of people had no pension in 2011, that figure was 33% last year and
has now fallen to 31%.
On average, those that do plan to stop working expect to retire at 62 - down from 63 in 2014.
"It is clear that large numbers of people still do not have effective pensions in place though it is good to see this number falling year-on-year," says Rod Aldridge, head of EMEA wholesale distribution at Baring Asset Management.
"It is also interesting to note that many expect to retire relatively early when compared to the state pension age."
On average, those that do plan to stop working expect to retire at 62 - down from 63 in 2014.
"It is clear that large numbers of people still do not have effective pensions in place though it is good to see this number falling year-on-year," says Rod Aldridge, head of EMEA wholesale distribution at Baring Asset Management.
"It is also interesting to note that many expect to retire relatively early when compared to the state pension age."
Older people are less optimistic about retirement, with 34% of the over-65s saying they don't plan to retire, up from 32% in 2014 - possibly because of uncertainty about the future of the state pension.
"The pressures on people to save for the future and plan properly are growing not shrinking, particularly in light of the recent changes to pensions and annuities implemented in April this year," says Aldridge, "and it remains fundamentally important for everyone to get a better understanding of the benefits of planning ahead and thinking about how they will fund their retirement."
A recent study from Prudential found that more than one in five pensioners has gone back to work or made plans to do so since reaching the state pension age. And while around half say they want to in order to keep themselves busy, the rest say they simply can't afford to retire.
One high-profile example is June Brown, who plays Dot Branning in EastEnders, and who recently told Radio 4 she was worried about the future: "I've always been afraid of being poor when I'm old. I think it's a dreadful thing to be strapped for cash when you are elderly," she said.
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Simply Naturals Ltd products are not intended to diagnose, treat, cure or prevent any disease. Information supplied in any of our promotion materials including catalogues and websites etc. is not intended to replace the individual advice available from your own doctor. If you have a recurring health problem that worries you, always tell your doctor. If you are taking a prescription medicine, please consult your doctor or pharmacist before taking a supplement. If you experience an adverse reaction, stop taking the supplement and seek medical advice. Any products, testimonials or claims have not been evaluated by The Dept. of Health, the FDA or any other health authority. Simply Naturals Ltd does not make any cure claims and does not give health or medical advice. Testimonials or endorsements that have been sent to Simply Naturals Ltd by customers relate only to those individuals and do not necessarily reflect the typical purchaser’s experience. We do not claim these are typical results and do not guarantee that anyone will achieve the same or similar benefits.
