Savings survey

Facing up to the reality of not having saved enough

Around 55* per cent of people said they were either currently not saving enough or they had to face up to the reality of not having saved enough into a pension in the past, according to insurer Friends Provident.

A further 15* per cent of those questioned admitted they had not given any thought to saving for retirement, while 31* per cent were relying on receiving an inheritance to fund them when they stopped working.

Nearly a third of people* who have yet to retire said they would carry on working until they had enough money to stop, while

23* per cent are planning to move to a smaller home or unlock equity from their property.

But 22* per cent of people are ‘just hoping’ they will have enough and 21* per cent have not made any plans about how they will support themselves if their pension is not big enough.

*Source: Friends Provident 02/09/09

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