People planning to retire this year are changing plans in the wake of Brexit
Over a quarter of people planning to retire this year fear a long-term Brexit will hit to their finances, according to a new research from Prudential.
27% were worried about damage to their pension values and other income as a consequence of Brexit, 11% of those who had intended to leave their jobs behind in 2017 had now changed their planned retirement date, while 6% were intending to see out their days abroad instead, Sky News reports.
Still, a majority 67% said their intentions had not changed, but only 12% thought Brexit would have a positive effect on their finances.
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Stock market values are at record highs since the EU referendum last June, boosting many top shares held by pension schemes. This is mostly down to the collapse in the value of the pound, which has increased the value of their overseas’ earnings.
“People planning to retire this year are expecting the highest retirement incomes since 2008 – so on the face of it, Brexit has had little impact on their retirement expectations. However, looking below the surface, there is a degree of uncertainty and nervousness among many of this year’s retirees.” said Kirsty Anderson, a retirement expert at Prudential.
“As you would expect, for many people who have been planning and saving for their retirement for most of their working lives, even the biggest of political upheavals won’t make a difference to their long-term plans.” she added.
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