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Most over-50s 'unready for retirement'
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PostPosted: Tue Nov 16, 2010 1:49 pm 
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Location: Hampshire
Only 25% of people over 50 think they are financially ready for retirement, a poll has revealed.

A survey by Research Plus has shown that roughly a third of workers over 50 have failed to put any money aside in a pension, while 64% are either unsure of how much money they will have when they retire or they believe they will not have enough.

Women are less likely to have made pension provision than men, according to the study, with the average woman in this age group having £34,500 set aside, compared with the £68,800 that the typical man has saved.

When state benefits are taken into account, this saving is unlikely to secure people the retirement income of £18,100, which most over-50s hope to have.

Since 2008, 57% of workers in this age group revealed that their pension saving had suffered a setback, with 29% of them saying they had endured 'considerable setbacks'.

http://www.ageuk.org.uk/


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