Colin Williams, Managing Director, Corporate Benefits at Friends Life comments:
“The fact that almost a quarter of the working over-50 population are struggling to make ends meet is worrying. This period of life is a time when the focus should be on consolidating and planning for retirement, though it seems in reality substantial numbers are having to concentrate on simply getting by. While our research shows people are more focused on saving for their retirement than they were ten years ago, it is worrying that only 21% listed this as being one of their top five financial priorities.
“This just highlights the fact that it is more important than ever to get the message through that saving for retirement is crucial. If many are struggling to make ends meet whilst they are still working, then they may find themselves in more dire straits when they reach retirement, so early planning is critical.”
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