The 2023 Nucleus UK Retirement Confidence Index
7 December 2023
We’ve launched the first study of its kind in the UK - The Nucleus 2023 Retirement Confidence Index, exploring the relationship between retirement confidence, planning and advice.
To help us to understand how people feel and what influences their decisions, we partnered with the Lang Cat and YouGov to survey over 2,200 people over the age of 50 to measure their confidence in their retirement. In a wide-ranging study, we based their responses on the central question “How confident are you that you’ll have enough money to live comfortably for the rest of your life?”.
This isn’t a simple question to answer. From the results, we can see for the first time the real impact of a range of factors on how UK adults feel about their financial future in retirement, including the difference in confidence from those who, and who have not, used an adviser.
The high-level results show:
- Financial planning drives considerable influence on retirement confidence.
- 49% of people aged over 50 don’t have a detailed retirement plan.
- Only 16% of UK adults are ‘totally confident’ they have enough money to retire in comfort.
By taking the actions we set out at the end of this report we can all help to increase retirement confidence, creating the potential to improve the overall wellbeing and quality of life of all future retirees.
Read the report here. We think you’ll find it informative, thought provoking and motivating.
