Retired couples amass savings
June 26, 2008 by admin
Filed under News, News-Banking
Retired couples in the UK have average savings and assets to the value of £269,479, according to a survey.
The average figure for single pensioners was found to be £134,739, Prudential reports.
Despite retired people having amassed such substantial savings, the organisation states that only 17 per cent of pensioners have sought financial guidance from a professional adviser.
Gary Shaughnessy, Prudential’s managing director of retail life and pensions, expresses surprise at the amount of savings and investments held by the average pensioner.
He adds: “The average pensioner could substantially boost their retirement income simply by using their savings and assets in different ways and exploring other options such as equity release to deliver an income.”
A separate study revealed last week by Zurich Financial Services suggests that one in five of the overall population believe it is too expensive to see a financial adviser.
In addition, it found that only three out of ten single people stated they had sought professional financial guidance.
