One in five workers expect to spend up to £250 on the World Cup, Penfold survey finds

Nearly one in five UK workers expect to spend up to £250 following this summer’s World Cup, according to research from Penfold, as the pension provider urged savers not to lose sight of their long-term retirement plans.

A snap survey conducted by Penfold found that 18% of workers expect to spend between £100 and £250 during the tournament, while 14% plan to spend between £50 and £100.

At the higher end of spending, 6.7% said they expected to spend between £250 and £500, while 4.7% anticipated spending more than £500.

However, more than half of respondents (56%) said they would spend less than £50.

The findings come as the Pensions Commission’s interim report warned that 15 million UK workers are currently under-saving for retirement, with the figure projected to rise to 19 million without intervention.

According to the report, a single person now requires an annual post-tax income of £45,400 to achieve a comfortable retirement, compared with a median full-time UK salary of £39,039.

Chris Eastwood, chief executive officer at Penfold, said: “The World Cup is a great reason to spend a bit more than usual, and there’s nothing wrong with that. But it can also be a useful reminder to check in on your pension.

“For many people, saving for the future has to compete with everyday costs, so small, regular actions can make a real difference over time.”