63% of adults fear running out of money in retirement, LV= finds

Almost two-thirds (63%) of UK adults are worried about running out of money in retirement, according to research from LV=. 

62% stated that they are worried about having enough income to cover regular living costs. 

26% said they felt anxious about their future, and 19% fear they may never retire at all.

67% are concerned about the potential cost of long-term care in retirement, and 23% of retirees are worried about savings losing value due to inflation and low interest rates.

Gwen Haggo, savings and retirement sales director at LV=, said: “The scale of concern around retirement income highlights why advisers are looking beyond short‑term performance.

“A blended, on-platform approach can help manage longevity and sequencing risks more effectively, while giving clients confidence that their income strategy has been designed for the full retirement journey – providing invaluable peace of mind for clients and supporting them to live financially confident lives both into and throughout later life.”