Are you in ‘Generation X’?

Carried out by YouGov, the research conducted with more than 3,000 adults shows that 90% have not started planning how they will fund their retirement. Among that large majority, the average age at which people felt they would start planning was 45 – roughly 20 years before they might hope to retire.

Putting off pension plans

On average, respondents across the sample expected to delay planning by around eight years. But there is a telling picture of procrastination that demonstrates that the vast majority continue to put off pension planning throughout their mid-life period. Respondents aged 30 predicted on average that they would start planning in just less than ten years’ time. Based on the predictions of those in their early 30s, there should be a gradual increase in the number of people who have actually gone ahead and put a plan in pla