Pension pessimism as under half of workers believe they will be financially stable enough for a comfortable retirement

Only 38% of workers believe they will have sufficient financial resources to live comfortably for 15 years into their retirement, according to research published today by professional services firm Towers Watson.

The Global Workforce Study (GWS) found that over half (52%) of British employees are worried about their future financial state amidst concerns over the ability to retire with sufficient income.

The survey of 32,000 employees worldwide, including over 2,600 UK workers, found that six out of 10 of UK workers claim retirement security has become a higher priority for them over the past three years, rising to 76% for workers over 40.

According to the GWS, UK workers are beginning to question the feasibility of their expected retirement age with nearly half (47%) now anticipating they will retire later than they previously thought and only 9% believing they will retire earlier than expected…

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