Northern Ireland and North East face highest risk of retirement poverty – Scottish Widows
Nearly half (48%) of people in these regions could struggle to cover their basic needs when they stop working.
Workers in Northern Ireland and the North East are most at risk of poverty in retirement, research from Scottish Widows found.
Nearly half (48%) of people in these regions could struggle to cover their basic needs when they stop working.
The figure dropped to 34% in the South East and 32% in the East of England.
Scottish Widows and Frontier Economics looked at pension data against retirement living standards set by Pensions UK.
They found as many as two in five (39%) people across the UK might not meet basic retirement needs.
Regular pension savers were more confident in managing their money, with 85% saying they felt secure.
Scotland had the highest proportion of people not confident at 44%, followed by the North East at 38% and Northern Ireland at 37%.
London was lowest at 32%.
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