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39 per cent have no private pension provision says survey

Only 10 per cent of adults expects to be able to live on the state pension alone, but 39 per cent have made no additional provision for their retirement, according to research from HSBC.

The bank surveyed a representative sample of 1,004 UK adults in August 2001 which also revealed that 63 per cent of people expect the state pension to be worth less in real terms when they retire.

Head of life, health and pensions Harpal Karlcut says: “Few people expect the basic state pension to give them a comfortable lifesytle in retirement, but our research shows an alarming number of people still have no other pension arranged.”

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