One of the key challenges some people face is imagining a retirement which may be decades away. As individuals take on more responsibility for their retirement, a clear idea of what they can expect from the State Pension and their own savings becomes ever more important.
Britons are living longer than ever before. However, this also presents many challenges – not least, how will we survive financially in old age given that our retirement may last much longer than we might have expected?
Many people don’t know the answer – not because they aren’t saving for old age or don’t have the means to finance their retirement, but because they haven’t thought carefully about exactly what their needs will be.
The big question everyone should think about when it comes to pension saving is: ‘How much will I need to pay for my retirement?’
BlackRock Investor Pulse was conducted in association with Cicero Group between July and September 2015. A nationally representative sample of over 31,000 people in 20 countries was surveyed. They were aged between 25 and 74 years old. 4,000 were UK residents and, of this 4,000, 750 met the criteria for investors – having investable assets of more than £100,000 or an income greater than £100,000 as an individual, or £150,000 as a household. The results of this survey are provided for information purposes only. The conclusions are intended to provide an indication of the current attitude of a sample of ‘wealthy investors’ in the UK to saving and investing and should not be relied upon for any other purposes