Welcome to Drewberry’s 2016 Annual Wealth and Protection Survey. It captures the responses of the 2,000 UK workers who kindly agreed to participate in the research we conducted at the end of August 2016.
As always, our findings provide a fascinating insight into the key concerns of the average British worker and include their views on key economic developments such as Brexit and the most recent interest rate cut, how they approach issues such as savings and protection and how they view their prospects for a comfortable retirement.
Summary of Our Findings…
We think the results make compelling reading. Among other things, our research suggests that, despite the recent growth in the UK property market and the strength of the long-term returns from global stock markets, a great many UK workers face an uncertain financial future.
Our findings make it clear that far too many Britons are still bewildered by the practicalities of building up sufficient savings to fund a comfortable retirement while a great many more are relying on outdated savings products such as bank accounts or cash ISAs and even the value of their home as a means to fund their retirement.
We think our findings underline why it’s now more important than ever before to seek reliable, professional financial advice. Although relatively few survey respondents recognised the value of good financial advice, it remains by far the most effective way to avert the ‘retirement crisis’ for which so many UK workers are clearly heading.