- Friday, 11 September 2009The majority of Britons do not believe their savings plans will meet their financial needs in retirement.
That is according to the Institute of Financial Planning (IFP) which is using research from Morningstar.co.uk as part of its Financial Planning Week polls.
Thursday's poll found that 74 per cent of people do not believe their savings plan is sufficient, while 77 per cent do not understand what the full extent of their retirement plans will be.
Holly Cook, online editor at Morningstar.co.uk, said: "It's notable that such a high proportion of respondents do not know how much income they will need when they retire.
"And with over two-thirds also revealing a gap between savings plans and savings goals, we appear to have something of a hands-over-the-eyes approach when it comes to managing our pre-retirement finances."
People who are unsure about their current or future financial situation could find it helpful to speak to a debt advice professional.
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