UK Money News
3rd April 2008
Brits confess to pension savings concerns
A new survey has uncovered serious anxieties about pension savings among British investors in the face of a predicted economic downturn.
According to a poll conducted by YouGov on behalf of The Hartford, savers aged 55 or more are most concerned over their financial future, with 47 per cent describing themselves as either "very worried" or "fairy worried" over how market conditions will affect their pensions.
Concerns were only marginally less marked among the 45-54 year-old age group, where some 38 per cent also described themselves as such.
John Enos, managing director of marketing and distribution at The Hartford, said: "In volatile equity markets, a guarantee on your retirement savings can provide invaluable peace of mind.
"This survey demonstrates that a large part of investing is psychological - market volatility can cause investors to feel greater levels of stress or even lose sleep."
The study also found that 21 per cent of those surveyed would be prepared to pay an extra annual sum to their provider in return for a guarantee that their pension would not fail.
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