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Longevity is biggest retirement savings threat, says MetLife

Increasing longevity is the biggest threat to clients saving for retirement, ahead of concerns about stock market volatility and rising inflation, according to research from MetLife.

It found 42 per cent of advisers cited rising longevity as the major concern when recommending investment strategies for clients planning for retirement.

MetLife says 27 per cent of advisers selected inflation as the biggest threat, while 18 per cent pointed to stock market volatility. Another 11 per cent believe the ability to protect savings in retirement is the biggest threat to retirement planning.

MetLife strategic development and marketing director Dominic Grinstead says: “It is striking that advisers cite longevity as the biggest threat ahead of volatility and inflation despite the recent focus on the rise in the cost of living and the slump in the FTSE.

“It demonstrates that advisers are focusing on the long-term and that they believe clients should also be looking long-term. Increasing longevity means that the long-term is likely to be longer than many people expect and that existing retirement income solutions may not always be up to the task.”

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