Third of over-55s spend more time choosing a car than preparing for retirement

Victoria Tichá
clock • 2 min read

More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.

Just around a third of retirees (32%) spend less than a week to make a decision on their pension income arrangements, compared to 40% who said they spend over a week to purchase a new car. This ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Barnett Waddingham large DC scheme research reveals 'edge' of own-trust arrangements

Barnett Waddingham large DC scheme research reveals 'edge' of own-trust arrangements

Master trust ascendancy continues but own-trust retains advantages

Jonathan Stapleton
clock 09 July 2025 • 3 min read
Most businesses with DC schemes pondering pension provision changes, LawDeb finds

Most businesses with DC schemes pondering pension provision changes, LawDeb finds

Research finds ‘multifaceted’ reasons for schemes to consider switching their provision

Martin Richmond
clock 08 July 2025 • 2 min read
Aon DC tracker shows increase in Q2 retirement outcomes

Aon DC tracker shows increase in Q2 retirement outcomes

Tracker rose from 67.9 to 70 driven by increased in expected future pre-retirement returns

Martin Richmond
clock 04 July 2025 • 3 min read
Trustpilot