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Centre for Policy on Ageing | |
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Retirement realities: shocked and struggling
— attitudes of older consumers to financial choices in retirement | | Corporate Author | National Consumer Council - NCC |
| Publisher | National Consumer Council - NCC, London, 2004 |
| Pages | 12 pp (PD 15/04) |
| Source | National Consumer Council, 20 Grosvenor Gardens, London SW1W 0DH. www.ncc.org.uk |
| Keywords | Income [older people] ; Pensions ; Consumer ; Attitude ; Working class ; Preparation [retirement] ; Social surveys ; London ; Newcastle upon Tyne. |
| Annotation | While many older consumers look forward to stopping work, this research finds that they are anxious about their finances and health during retirement. Additional income above the state pension is the key to feeling more confident about the future. However, returns on pensions have disappointed many. As a result, people now look to other forms of savings, home ownership, or the possibility of an inheritance, for a sense of control and reassurance. The home plays a key role in retirement: it is a source of pride and confidence, something to be passed on to children. Although there is high awareness of equity release products, there is a considerable distrust of the providers, and a strong sense that the products offer poor value, are complex and inflexible. This report is part of the NCC's project, "Financial futures: meeting the retirement income needs of all consumers". The research was conducted in London and Newcastle by Slesenger Research. Participants were from socio-economic groups C2 and D (skilled working class and working class respectively), a proxy for consumers on low and modest incomes. (RH). |
| Accession Number | CPA-040609006 B |
| Classmark | JF: JJ: WY: DP: TA: GA: 3F: 82L: 86A |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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