The second Nucleus UK Retirement Confidence Index
3 December 2024
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Pensions and retirement have always been key economic, political and social issues, and with our rapidly aging population it’s an even bigger topic. Nucleus is keen to do what we can to contribute to these conversations so you can do even more to support your clients in achieving a secure and comfortable retirement.
That’s why we launched the Nucleus Retirement Confidence Index last year. It offers a unique, in-depth look at how people feel about retirement across the UK. Our survey highlights what's driving confidence or uncertainty in retirement planning.
More than 4,300 people aged 18 and over took part in the latest research.
It revealed that the majority of adults aren’t confident they’ll have enough money to live comfortably in retirement - 60% said they’re not confident about their retirement prospects.
- Only 34% felt they would have enough money to live comfortably for the rest of their lives.
- Over a quarter said they were either slightly less or much less confident about their retirement prospects following the Budget.
- 39% are still not contributing to a pension
- Just under half (44%) believe the State Pension won’t exist in the future
The lack of confidence in peoples’ expectations for retirement is one of the reasons we’re calling for an independent long-term savings commission.
Last year we wrote an open letter to the pensions minister Paul Maynard urging him to consider this as part of a review of the pensions regime. We believe there needs to be greater cross-party agreement for pensions and savings policy to ensure more people can feel confident about their retirement prospects.
Read our retirement index report here. We think you’ll find it informative, thought provoking and motivating.
