New report from Alliance Trust Savings, the financial services provider, has revealed that the closer people get to retirement, the more they fear the impact of potential inflation movements on their retirement provision.
Alliance Trust’s annual Retirement Confidence Index has showed that inflation movements are the biggest retirement worry for people nearing life after work, while the very same factor is listed as low as 10th place for people at the beginning of their working career. The index has revealed that for working people in their sixties the top three threats to having a comfortable retirement are inflation movements, followed by falling ill and not being able to work and a stock market crash.
Hyman Wolanski, head of pensions at Alliance Trust, said: It is only natural for people nearing retirement to worry more about the impact of inflation than younger generations. As your retirement gets closer then inflation understandably becomes a real concern.