Survey: Global Consumers Anxious About Retirement, Savings

Aviva, which conducts a global annual survey of consumer attitudes to savings, released findings from its latest survey showing that only 45% of its global sample are saving regularly (only 36$ in the United Kingdom), despite people in most markets agreeing that investing or saving regularly is the most practical way to live comfortably in retirement. In addition, the survey shows that:

• there are persisting high levels of anxiety over retirement, with people knowing that having enough money in retirement is important but in many countries, Eastern Europe in particular, few are taking steps to protect themselves;
• over 40% of retired people, and even more in emerging markets, wish they had done something earlier to provide for their retirement; and
• over 40% of people globally feel that financial planning for retirement is too complex.

In addition, the survey shows that in the United Kingdom, around half of those surveyed accept that they are going to have to work beyond their normal retirement date to fund their retirement.

In order to engage more consumers in financial planning for the future, Aviva has launched www.six-steps.org, a free, unbiased planning resource to help people make informed financial decisions about their retirement.

Source: Aviva PLC News Release (April 19, 2007)