Retirees favour wealth over health - Pensions - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Retirees favour wealth over health

Retirees favour wealth over health

Category: Pensions

Updated: 12/03/2010
First Published: 12/03/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Employees have been urged to put more into their pension, after almost three quarters of workers said being financially secure would make them happy in retirement.

Having enough money to comfortably get by was voted above all other essential ingredients for happiness in retirement by 71% of people surveyed by the National Association of Pension Funds (NAPF).

Good health (69%), being able to travel (48%) and being surrounded by family and friends (45%) all trailed in behind.

Yet just 34% of people surveyed were confident that their pension will give them the security they desire.

Even more worrying was that only 21% of women felt their current pension provision would be adequate to keep them content.

"In the retirement happiness stakes, wealth edges ahead of health because it lays the foundation for future life after work," said NAPF Chief Executive, Joanne Segars.

"The challenge for the next decade is closing the gap between what people want in retirement and how confident they are in getting it, even more so for women."

On a lighter note, amongst other key findings from the survey, one in seven people said the thing they would most miss about no longer working was getting time away from their partner!

Compare pensions

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Have you lost track of your pensions?

The changing nature of the jobs market means it’s highly likely that you’ve got more than one pension pot, but the question is, do you know where they all are? According to research from Aegon, many people don’t.

Grandparents missing out on pension protection

Grandparents who give up work to take care of their grandchildren could be missing out on valuable state pension rights. So, if you're a grandparent taking care of a little one, make sure you’re building up all of the pension that you deserve.

Setting goals could boost your pension pot by £30K

Setting goals can be the key to success in many areas of life, helping motivate you to achieve anything from career progression to building up that house deposit - and if you have goals set for retirement, you could boost your pension by £30,000.
 
Close