A quarter of under-35s in the UK don’t know how they will fund their retirement, according to a new survey.

Annuity Supermarket polled 500 people aged 18-34, and made some alarming findings: 27% of under-35s believe they will rely solely on a state pension, and more than 1 in 10 believe they will end up working their entire lives.

Meanwhile, 13% of respondents earning below £10,000 believe they will be able to retire before they reach 50.

More key figures:

·      65% of under-35s don’t know what an annuity is.

·      44% have never heard of equity release.

·      89% don’t understand the term ‘income drawdown’.

Kevin Stelfox, Marketing Director at Annuity Supermarket, said:

"The figures demonstrate a serious lack of knowledge amongst the British public about how they will fund their retirement.

"The data also suggests that a significant proportion of those in the lowest income bracket have unrealistic expectations about their financial future.

"It’s important that young people get a grip on planning for their retirement if they want to avoid pension poverty."

For more information, you can read the full report at:



Notes to editors:

Annuity Supermarket is an independent financial website providing specialist information for the over 55s. Annuity Supermarket directors have a wealth of knowledge and experience of the retirement market, much of which has been gained working for large blue-chip insurance companies.

For more information, visit www.annuitysupermarket.com.


For press information, please contact:

Karen Adams or Malin Cunningham at HatTrick PR on:

Karen: 07572 443112 or email: karen.adams@hattrickpr.co.uk

Malin: 07572 443 111 or email: malin.cunningham@hattrickpr.co.uk

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