Attitudes towards retirement and personal finances

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This 721 word blog post examines the latest findings from the Wealth and Assets Survey by the Office for National Statistics, including looking at the need for income protection insurance and understanding retirement options. Written on 2nd August 2018.

Description

What are the public attitudes towards saving for retirement, automatic enrolment into a workplace pension and household personal finances? Those are the questions set out to be answered by the Office for National Statistics in their Wealth and Assets Survey. Their latest release of data, which are preliminary estimates for July 2016 to December 2017, uses attitudinal data and contains some interesting findings. According to the survey, 12% of people during this period reported they always or most of the time ran out of money at the end of the week or month. As a result, they needed a credit card or overdraft to get by.