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New study finds retirement worries around older workers

Around half of all Britons who are approaching retirement age fear that they have not saved up enough money to live comfortably in old age, new research suggests.According to Hartford Life, 54 per cent of all women aged 45 to 54 years old either feel "somewhat" or "very" concerned about this issue.Among men of the same age, this figure stood at 45 per cent.The credit crunch was cited by the Hartford as a potential reason behind these concerns, with around 55 per cent of the age group saying that they were currently thinking more about their day-to-day personal finances than they were about saving for retirement.Michael Rudge, UK managing director at the firm, said: "It is entirely understandable that women are now worrying more about retirement than men. In addition to living longer than men, women often appreciate the cost of living more."While the research shows that women are more worried than men about some aspects of retirement, their worries are not unfounded. Women are paying more attention now than ever before on how to save but, especially in the 45 to 54 age bracket, often have so many pressures on both their time and money that they can find it difficult to plan for retirement."

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