Marvin OnumonuAlmost half of farmers said they planned to seek financial advice in the next six months, mainly due to concerns over pensions, a study by NFU Mutual found.
62% of customers said international tensions had affected their view on saving and investing, up from 36% in November 2024.
Many also expressed worries about ongoing stock market volatility.
The study also found that 36% of all customers planned to seek financial advice soon, rising to 48% among farmers.
Pension savings were the main concern for farmers.
44% of farmers said they had not made extra payments into savings or investments in the last three months.
Many said they were focused on loan repayments instead.
Inheritance tax changes remained a worry for some, with some customers saying they had decided to spend their savings to avoid the tax, and others looking to maximise their cash ISA allowances in case of more changes in future.
Meanwhile, the share of customers concerned about their finances over the next five years fell to 49%, down from 57% in November 2024.
David Nottingham, personal finance expert at NFU Mutual, said: “The latest study shows a continued increase in short term financial concerns amongst rural customers due to international tensions.
“This explains why we are seeing an increased appetite for specialist advice as rural customers seek to navigate the uncertainty and secure their financial future.
“Inheritance tax is a particular concern for older participants, and many are worried about the impact on their pensions and finances.”
Nottingham added: “It is no surprise that many farmers’ concerns about their finances centre around their pensions given the proposals to bring pensions within the inheritance tax net from 2027.
“Customers remain cautious given international tensions and the continued cost of living pressures but there are some bright spots notably that customer pessimism over the next five years has decreased significantly.”
