Britons Under Retirement Pressure Disclosed Alliance Trust

It has been reported that the consumers across the country are struggling hard to enhance their cost of living. Whereas a significant number of Britons are not only worried about their capability to handle their money at present but also about how they will cope in future.

Such is the assertion of Alliance Trust Savings, where a recent report reveals that just under half of people are now sure about that they will be able to have a relaxed way of living during their retirement. According to data released by the financial services firms latest retirement confidence index, it was pointed out that 43 per cent of consumers are not sure about they will have sufficient money to take pleasure in their golden years. This figure is the highest recorded by the company in the three-year period it has been conducted such research and is a rise from the 40 per cent which was recorded last year.

Worries about organizing money seem to be particularly common in older people, with 38 per cent of those over the age of 50 shown to be not sure about how they will deal with their finances during retirement. This increases to 49 per cent of Britons between 30 to 50 years old.

However, a lack of funds and more and more number of debts during retirement could see people putting great effort to keep up with various financial commitments as they get older. This mess can be solved by taking out a debt consolidation loan. By opting for such kind of loan borrowers can easily merge their numerous debts into a low cost single loans.

On the other hand, just 34 per cent of Britons are sure about that they will be able to have a comfortable lifestyle after retiring from work. However, men appear to be considerably more secure about their pensions, with 40 per cent of males said to believe that they should be able to relax during retirement free of money strains, as compare to 28 per cent of women.

Commenting on the figures, Steve Latto, pension's development manager for Alliance Trust, said: "The wallets of Britons is started pinching their pocket due to rise in inflation at a 17-year high, food and utility prices are on the up and the credit crunch continues to take its toll on day-to-day life. It is, however, important to remember that retirement planning is a long-term process and should be treated well in an organized form by taking out a debt consolidation loan."

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