A worrying lack of interest in long-term savings products such as pensions has been exposed in Britons.
Research conducted by Standard Life found that just 46 per cent of consumers “care” about their pension.
Meanwhile, 23 per cent of those with a pension said they didn’t care about the savings they had made for their retirement and 32 per cent revealed they had little idea of how much they actually had invested.
With the study also finding that men care for their cars and women for their jewellery more than they do their pensions, Mark Polson, head of customer management at Standard Life, called for a reassessment of the way Britons view their finances .
“Our car and the jewellery we have at home are some of the most important assets we possess. However, these assets are often less valuable than those that aim to secure our financial future,” he commented.
“By taking an active interest in your finances, such as investing in long term savings products and staying engaged, your money can work harder for your future. It’s time to reality check our attitudes to saving.”
A recent poll conducted by Aviva found 47 per cent of parents believe their children should make investing in a pension a priority.
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