Brits Do Not Have Pension Plans – Baring Asset Management

A recent research by a global investment management company, Baring Asset Management, showed that almost one half of British women does not have a pension.

As such, 8.7 million or 47% of women, who are not yet retired, said they have no pension. The trend is worrying because this figure stood at 40% and 38% in 2009 and 2008 respectively. On top of that, 22% non-retired Brits aged 55-64 do not have a pension. As for young people (aged 25-34), 40% of them do not have a pension plan; meanwhile 32% of those aged 35-44 also do not care about their old age.

This year, 12% of respondents to Baring Asset Management survey said that they will use their property as a personal pension. Last year this figure stood at 8%, which is not a very good sign.

Commenting on the findings, Marino Valensise of Baring Asset Management said that the situation in the UK is worrying. The fact that life expectancy in the country is increasing means that Brits have to start thinking about their pensions as early as possible.