A global concern has surfaced over the pensions crisis following research conducted by insurance group Aviva, which revealed that an astonishing 60% of pre-retirees around the world are not financially prepared to enter retirement.
The statistics also revealed that a worrying mere three out of 10 Brits are currently saving for retirement, in comparison to almost half of Americans and three quarters of Hong Kong citizens. Furthermore, 48% of the world’s retired adults wish that they had started saving earlier to provide for their retirement.
Richard Harvey, group chief executive at Aviva, commented: Our research shows that the pensions black hole is not just a UK-specific issue but an area of global concern. Broadly, the world’s pre-retired population seems to have resigned itself to the fact that the term ‘retirement age’ may not apply to a specific age and will become increasingly ambiguous.
In response to the survey, Aviva has launched a website to assist consumers in financial decision in relation to their future. The site takes people through six simple steps towards planning a secure and financial healthy retirement.
Mr Harvey concluded: Retirement planning throughout the world is an issue that needs resolving. Globally, we are in a situation where inaction leads to anxiety rather than anxiety leading to action.