News
March 2007
Britons plan for retirement first
New research by AXA shows the average Briton starts planning for retirement at 28. This puts planning for retirement before buying property which the average British person does not start until 29.
The UK's workers take the lead on retirement planning worldwide with those in Canada and the USA coming second at the age of 30 and those in Australia coming third at 31. Britons are thinking before those in Europe with French, German and Italian workers also preparing for retirement at 31 and those in Spain waiting until they are 33 before they consider how to fund their pension.
Britons are saving 10 per cent of their salary towards their retirement income. However, as one third will rely on property to secure a retirement income, concerns are raised about how much thought and advice has been taken when exploring the best way to plan for retirement.
If you are confused about your financial options have a look at the money made clear website provided by the Financial Services Authority.
You can find out more about planning for retirement in the I am planning ahead section of this website.