1 in 3 Brits more worried about retirement post Brexit vote

How will Britain leaving the EU affect your pension?

1 in 3 Brits more worried about retirement post Brexit vote

"Brexit means Brexit," according to Britain's new Prime Minister, Theresa May. But for many working Britons, Brexit means greater concerns about their pensions and retirement incomes.

New research from online pension adviser Wealth Wizards shows that 40% of Britons of working age failed to consider the impact on their pensions when deciding how to vote in the European Union (EU) Referendum.

Now, though, 31% of workers are more worried about retiring due to the UK voting to leave the EU last month.

Even among those who voted for Brexit, 15% admit to having concerns about how the move will affect their pensions.
And many feel they were not properly informed about the potential implications on their retirement incomes in the run up to the vote.

Andrew Firth, chief executive at Wealth Wizards, said: "While there is still a great deal of uncertainty, it is encouraging that people are realising that planning for their retirement is not an abstract idea to be dealt with in the future but something to be addressed in the here and now."

The company's research also revealed that one in three Brits think their employers should be providing them with advice about pensions in the aftermath of the Referendum.

"Brexit has brought pensions to the forefront. There has never been a more acute time for people to understand their pensions and the options available to them," Firth said.

"Offering digital advice is a low-cost option for organisations, providing a transparent solution to their staff, which in turn will put people's minds at rest and provide some certainty during a time of change."

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