UK Money News
29th July 2008
Consumers fear retirement income shortfall
Britons are becoming more and more concerned over a potential shortfall in their retirement income and are seeking professional help to address their worries.
New figures from an online service which helps consumers track down Independent Financial Advisers (IFAs) show that personal retirement planning was the most searched-for term during the first six months of the year.
This was followed by equity release, which accounted for four per cent of all searches.
The trends have been attributed to the soaring rate of inflation, which consumers fear will eat into and depreciate the value of their retirement income.
David Elms, chief executive of Unbiased.co.uk, which operates the service, said: "Our latest report demonstrates that when consumers are most worried about their finances, they put their faith in IFAs to guide them.
"It is also reassuring that with increased interest in equity release products, consumers are seeking the gold standard of advice in order to decide on whether such products are appropriate to them."
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