Qualified advisers answering your
Financial Questions
call 0800 092 1245

Brits "world's youngest" pension planners

British people are the world's youngest pension planners by starting to plan for retirement at an average age of 28, according to a new survey.Financial protection firm AXA reports that the average British person starts planning for their retirement before taking a first step on the property ladder with the current average age of a first-time buyer standing at 29 years old.The Canadians and Americans came second in the survey at the age of 30. Third place went to those in Australia with an average age of 31.Yet it seems those from the rest of Europe are far less financially prepared than the British with French, German and Italian workers beginning to prepare for retirement at 31 and the Spaniards waiting until they are 33 before tackling their pension funds.Steve Folkard, head of pensions and savings policy at AXA, said: "It's exciting to see people starting to take more responsibility for their own income in retirement."Despite 58 per cent of British workers being firmly against the idea, the majority of European workers think their UK counterparts have a better pensions system than them. Many favour a common pensions system including 86 per cent of Portuguese, 78 per cent of Spanish and 66 per cent of Italian workers.Mr Folkard added: "With the majority of Europeans having less disposable income in comparison to their UK counterparts, it is hardly surprising they favour a common pensions system that could bring their financial situation inline with the more affluent UK."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details