Abbey: 53% of adults unsure about pensions savings

Switch for the chance to WIN an amazing Amazon Echo Dot

Three of Amazon's most popular personal assistants to be won! (T&Cs apply)

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

Over half of adults in the UK do not know how much money they need to save for a comfortable retirement, according to new research.

Abbey's findings also revealed that women are less likely to know what they need than men, while 16 per cent believe they can retire on a lump sum that would pay them less than developing world countries.

Commenting on the study, Abbey's head of savings, Reza Attar-Zadeh, said the research was "of particular concern".

"Clearly Brits are not saving enough for their retirement.

"This is of particular concern, with the move from final salary schemes to money purchase schemes, which means increasingly people need to take personal responsibility for saving for the future."

Recently, Grant Hughes, who is director of financial advisers Charlwood Leigh, said that more people need to take responsibility for their pensions and not rely on state schemes for a comfortable retirement.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more