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Britons worried about funding retirement
11 June 2008
An increasing number of British people are worried they could not finance their retirement if they live to 90, claims a finance company.
While the average life span in the UK is 82, people who reach 50 have a 47 per cent chance of living to 90 and 54 per cent of people are concerned they cannot afford to live to that age, according to Life Trust.
Andy Briscoe, chief executive of Life Trust, said: "We're all living longer than ever before, which should be seen as an opportunity not a burden."
People may be forced to work for longer or contribute more to their pensions if they want to support an average lifestyle for the length of their retirement.
"People need to really consider what they want to achieve in these years and put plans in place to ensure they can afford it," said Mr Briscoe.
Research by Life Trust revealed that 24 per cent of Britons would like to travel the world when they retire.
