Savers diversify to fund retirement
How do you plan to fund your retirement?
A survey by YouGov commissioned by Friends Life has found that retirees plan to use a mix of assets such as pensions, cash ISAs and savings to fund their retirement.
Pensions are the most popular way of saving for long-term retirement. More than half (52%) of respondents plan to use a state pension while 39% have company pensions and 25% hold personal pensions.
Other popular ways of funding retirement include:
- savings accounts (29%)
- cash ISAs (18%)
- property (17%)
- stock and shares
- equity release schemes.
Andy Briggs, group chief executive at Friends Life, said:
“It’s hugely encouraging to discover that people are preparing for retirement by putting in place such a comprehensive ‘basket’ of retirement products.
“It demonstrates that people are aware of the need to plan ahead and to understand the options available to them so they can work out how best to secure their future.”
Contact us to discuss your options in retirement.