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An increasing concern for millions of older workers in the UK, comes following reports that up to four and a half million people over the age of 55 have no plans in place regarding how they are going to finance their retirement.
Abbey Savings research has revealed 4.8 million people aged 45 to 54 have no plans in place regarding how they are going to finance their retirement, leaving an unsettling pcture for the future of UK workers. This figure equates to almost two-thirds of the 45 to 54 demographic.
In view of this new information Reza Attar-Zadeh, head of savings at Abbey, warns of a "potential retirement time bomb" being faced by both the employed & the self employed who fit in to the baby boomer generation, as they fail to make adequate financial provisions for their retirement.