7th June 2011

Scottish Widows: 7th annual Pensions Report reveals customers’ attitudes towards pensions

7th annual Pensions Report reveals customers’ attitudes towards pensions

We’re pleased to announce the launch of the 7^th annual Scottish Widows Pensions Report. It provides valuable insight into the nation’s views on pensions.

Download the 2011 Pensions Report

The key findings of our 2011 report are:

Pension performance – The Scottish Widows Pensions Index shows that only 51% of people are currently saving enough for their retirement. And our Average Savings Ratio, which measures savings for retirement as a percentage of total income, is at 9.3%. We believe that 12% is required to adequately save for retirement. However, alarmingly, 20% of people are saving nothing for their retirement.

Gender difference – The gender gap has fallen from 9% to 3%, with 53% of men and 50% of women preparing adequately.

The age factor – 59% of over 50s are currently preparing adequately for their retirement, compared with just 47% of people between 30 and 50.

This report gives further insight into the profile of saver types across the pensions market. It may help you develop additional business opportunities with your clients, and could highlight areas where you can help them be better prepared.

Best regards,

Ian Naismith

Head of Pensions Market Development

To learn more about Tools and Resources from Scottish Widows click here

Pensions