Standard Life plc · LSE:SDLF
Standard Life — Phoenix Insights Great Expectations webinar
5 slides from Standard Life's conference presentation
Slide 1: There are reasons to be concerned about the majority of DC savers
There are reasons to be concerned about the majority of DC (or potential DC) savers The ‘Unsure’: 5.8 million people Not all will be financially ill-prepared but some will be disadvantaged from not engaging with their pension savings. The ‘Financially Struggling’: 4.6 million people An income less t
Slide 2: Can people get on track by retiring later?
Can people get on track by retiring later? Working longer would not be sufficient alone to enable everyone to achieve their expected income 8% of those not on track (1.2 million savers) would be brought on track by retiring two years later 20% of those not on track (2.8 million savers) would be brou
Slide 3: Can people get on track by saving more?
Can people get on track by saving more? Modest increases in saving rates will not be sufficient for most people 5% of those not on track (0.7 million savers) would be brought on track by increasing their saving rate by 2% of salary If everyone with total contribution of less than 12% of salary incre
Slide 4: Are expected retirement incomes realistic?
Are expected retirement incomes realistic? Saving 12% salary and working until 68 would only get around 40% back on track Other sources of income may help – but those already on track are more likely to expect inheritances and or to draw on housing wealth Expected retirement incomes are high relativ
Slide 5: Expectations relative to current incomes are most concerning among middle income earners
Expectations relative to current incomes are most concerning among middle income earners Lower income earners (under £20k): Middle income earners (£20-50k): Most expect less than a moderate Many expect a moderate or income comfortable income Largely the would be on track if they Most would need a su
Standard Life — Phoenix Insights Great Expectations webinar on 6ix