Pension freedoms: the six biggest concerns

December 16, 2016 | 5years | Retirement Planning News

The fear of running out of money tops the "worry list" of savers' concerns, both ahead of and during retirement, a poll of 252 financial advisers has found.

The survey, conducted by fund manager Schroders, asked advisers to name their clients' biggest concerns. A third of the votes, 33%, went to worries over "running out of money/how long they will live".

Second place on the worry list was not knowing the total amount needed for retirement, which polled 24%; followed by "how much money do I need to take each year?", which took 16% of the vote.

The other three big concerns were: uncertainty over how much should be set aside in a pension each year (11%); worries about further falls in income (8%); and not understanding drawdown (7%). The remainder of the vote was "other".

To continue reading this article follow the link:

You are now departing from the regulatory site of Financial Services Scotland Limited. Neither Financial Services Scotland Limited or Personal Touch Financial Services Limited is responsible for the accuracy of the information contained within the linked site.