Debt management may help people achieve retirement goals
Debt management may help people achieve retirement goals
- Monday, 15 March 2010Being financially secure in retirement is more important for many people than their health, it has been found.
A new survey released by the National Association of Pension Funds (NAPF) revealed that 71 per cent of employees rated financial security above all other elements for happiness in retirement.
Being in good health was a top priority for 69 per cent, while 48 per cent rated travel and 45 per cent regard family and friends as being most important when they retire.
Yet just 34 per cent of people are confident that their pension will enable them to achieve such financial security, according to the report.
NAPF chief executive Joanne Segars said wealth was rated as a top priority by so many as it "lays the foundation" for future life after work.
"The challenge for the next decade is closing the gap between what people want in retirement and how confident they are in getting it, even more so for women," she said.
When people were asked what they would miss about working when they retire, the highest scoring responses were "mixing with colleagues" and "having a secure income".
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