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Standard Life reveals the most popular retirement top-up plans


Standard Life research* has revealed the most popular retirement top-up plans for people who have saved into a pension. Alongside using other investments (43%), nearly a quarter (24%) are expecting inheritance will help fund their retirement, while others are planning equity release on their main home (10%), using rental income / sale of a property (23%) or using a partner or spouse’s income (16%).

The research found that 7% of over-55s don’t plan to retire or have a pension plan, even though they had been saving into a pension. Using the state pension or other state benefits (76%) was the favoured choice of the majority of people. 23% of women are expecting to receive a retirement top-up from their spouse, while 13% of men make the same assumption.

John Lawson, head of pensions policy at Standard Life said: "Nearly half a million people in the UK over 55 are not planning to retire. This shows our attitudes towards retirement are changing, as people consider the implications of working and living longer than ever before. We know that many people want to continue working on their own terms, while some will want to start a new business or learn a new skill.

"Unfortunately, some may not have got their financial planning quite right. The realisation of reaching 65 and having to fund another 30 years in retirement has made them rethink their future plans.

“Relying on certain sources of income, for example an inheritance, could leave you short changed, so seeking the right financial advice early on and taking practical steps to ensure you don’t have all your eggs in one basket may prove a prudent move in later years.”

To help support people when making investment decisions, Standard Life has recently launched a range of investment funds, called MyFolio**. The MyFolio funds are a family of carefully constructed risk-based portfolios that offer clients a choice of active and passive investment strategies across five risk levels. Three styles are available to suit each clients’ investment philosophy: MyFolio Market Funds, Standard Life MyFolio Funds and MyFolio Multi-Manager Funds.

About Standard Life:
Standard Life is a leading long term savings and investments company headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance, annuities, investment funds, stocks & shares ISA, tax efficiencies, pensions including self-invested personal pensions (SIPP) company pensions and employer pensions, and investment management to over 6.5 million customers worldwide.

Notes to Editors:
*All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1,211 adults in the UK who are working and have a defined benefit, defined contribution pension and / or a personal pension. Fieldwork was undertaken between 26th-29th November 2010. The survey was carried out online.

**MyFolio can be accessed via both a Stocks and Shares ISA and Active Money Personal Pension. MyFolio is a family of carefully constructed risk-based portfolios, managed by Standard Life Investments. A committee oversees the fund research process and includes independent experts from outside the Standard Life group.

PR Contact:
Paul Keeble
Senior Media Affairs Manager
Standard Life plc
Level 34
30 St Mary Axe
44 (0)20 7872 4481


 Standard Life
 Investment funds
 Stocks & shares ISA
 Pension plan

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