Pru exposes retirement anxiety

02 March 2007
Planning for retirement is top on the list of clients' concerns, a survey of financial advisers from Prudential has found.

More than half of those surveyed - 54 per cent - commented that clients' most serious worry is how they will get their finances in order in time for retirement.

Although only four per cent of clients said they had no pension at all put by, 40 per cent of clients said not having saved enough was their biggest worry.

"People are increasingly realising that they may not have saved enough to support them when they retire," Prudential's director of lifetime mortgages, Ali Crossley, commented.

The second most prominent concern for clients was inheritance tax planning, which has become a pressing issue as rising house prices expose an increasing number of medium-income homeowners to the tax.

Earlier this week, research from insurers Aviva found that 43 per cent of adults are worried their current retirement fund level will not be enough and just under a third could not envisage holding onto their savings for long enough to tide them over into retirement.

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