View more on these topics

Mind pension reality gap, warns Sun Life

High net-worth customers may have the biggest expectation gap between what they have saved for retirement and the size of pension they will receive, according to Sun Life Financial of Canada.

The company says while the wealthiest sections of society are more likely to seek financial advice, the mass affluent are more likely to overestimate their retirement income.

Sun Life Financial’s report, Sense Check at 60, asked 1,000 consumers at or approaching retirement age with at least £100,000 of pension assets about their attitudes to finance and retirement.

Fifty-seven per cent had seen a financial adviser in the last 12 months but the firm suggests that many people still have unrealistic expectations for their pension income.

The report reveals that 49 per cent of people expect a pension of between £20,000 and £40,000. However, 59 per cent have pension funds of less than £300,000 and it would take savings of £600,000 to provide an income at the lower end of this target range.

Head of marketing Mark Stopard says: “This group of savers have amassed very respectable funds but there is a reality gap in terms of retirement income levels they expect and are likely to achieve.”



Chinese investors eye Pru’s Asian arm

A group of Chinese investors who backed Prudential’s AIA bid is reportedly considering a takeover deal of Prudential’s Asian division. A report in The Sunday Times says the consortium of investors who were behind Pru’s failed bid to buy the Asian arm of AIG are now looking at taking control of Pru’s Asian arm instead. […]

EU to crack down on derivative markets

The European Commission has branded the European derivatives market the “wild west” as it looks to crack down on opaque practices in the sector. In an attempt to follow the US regulatory overhaul of unreported speculative trades between parties, EU commissioner for internal market and services Michel Barnier yesterday announced plans to make over the […]

Santander may look to London float to raise capital

Santander may be preparing a £20bn float on the London Stock Exchange in an attempt to raise capital after expanding its business across Europe. According to Spanish business newspaper Expansion, the Spanish bank may sell off 20 per cent of its UK business – made up of Abbey, Bradford & Bingley and Alliance & Leicester […]


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm