28% of Britons over 50 have no retirement savings in place
6.25 million Britons aged over-50 (28%) have no pension plan in place and look set to rely on just the state pension in retirement, a huge increase on the 1.2 million people who live solely on the state pension today [1].
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[1] All figures are taken from the LV= State of Retirement Report which was produced by Opinium’s Desk Research unit and the Survey team; Survey research was carried out amongst a custom sample of older aged Britons by Opinium Research on behalf of LV=. The online poll amongst a custom sample of 1,559 British adults aged over-50 years was carried out between 20-27 April 2012.
The LV= research found that when asked “which if any of the following types of pension schemes do you have?”, 28% of over-50s said “do not have a pension / savings aside (aside from state pension)” .