Schroder Investment Management Limited
31 Gresham Street, London EC2V 7Q
Telephone +44 (0)20 7658 6000 Fax +44 (0)20 7658 6965 www.schroders.com
News Release
26 January 2012
When it comes to retirement planning, investors across Europe
are driven by the prospect of achieving a high standard of
living when they retire - according to research from
Schroders.
At a time when the economic slowdown has prompted
wide-ranging discussion on pension provision and retirement
age, the new Schroders research reveals a sea change in
investor attitudes to retirement - what people could do in
retirement is proving to be far more important than the
question of when people could retire. When asked what
motivated retirement planning, six in ten European investors,
not yet at retirement age, said that maintaining or improving
their current standard of living was a key consideration. In
contrast, the allure of retiring early did not feature in the
top five responses given (24%).
Rank | Motivations | Percentage |
1 | Maintain or increase current standard of living | 60% |
2 | Debt free lifestyle | 41% |
3 | Go on holidays with my family | 34% |
4 | Be able to help my children/ grandchildren | 32% |
5 | Spend more time with my family | 26% |
Source: Schroders European Wealth Index - September 2011
The research findings are taken from the Schroders European
Wealth Index, a survey that tracks the investment habits and
outlook of more than 1,400 affluent investors across 10
European countries (Germany, Austria, Sweden, Switzerland,
Spain, Netherlands, Belgium, Italy, France and the UK.) An
affluent investor was defined as a person with invested
assets, excluding primary residence, of €100,000 (or the
equivalent amount).
Whilst there was broad consensus across Europe on the
retirement goals that mattered some specific
country-by-country highlights emerged.
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Schroder Investment Management Limited
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Spanish investors chose to have a debt-free life in
retirement (54%), followed by German
investors (42%).
French investors emerged as the most family orientated and
most likely to prioritise the importance of being free to
spend more time with their family (31%). They also placed
importance on being able to afford to go on holidays with
their extended family (29%) and to
be in a position where they could help their children and
grandchildren (33%).
British (72%) and Austrian (58%) investors were most adamant
about ensuring they
maintained or increased their current standard of living in
retirement.
The Swedes and Swiss were drawn to the allure of early
retirement, although the proportion of people wanting to do
this peaked at only 27%. This was overshadowed by 54% and 43%
respectively wanting to secure a decent standard of living in
retirement.
Set against the retirement plans of many European investors,
the Schroders Wealth Index also indicated that many investors
could be sleepwalking towards a retirement wake-up call. When
asked what size pension pot they would need to deliver a good
standard of living in retirement, affluent European investors
predicted that an average of €475,862 would be adequate. In
today's money (and presuming an annuity rate of around
5%i), this would give investors a typical income
of under €23,793 a year, which is less than half the
household income that they currently enjoyed (€51,993).
"Across Europe, the investor dream of a high standard of living in retirement may lead to disappointment unless more short-term action towards retirement planning is taken now. The predictions that investors put forward on the pension pot they would need to retire on would not give many of them the standard of living they expect. Investors should seek advice from financial advisers to review their plans and ensure their long-term financial strategy tallies with the lifestyle expectations they have for retirement."
1 Source: Money Facts as at 7 December 2011
Schroders plc 2
Registered office at above address
Reg. 3909886 England For your security, communications may be taped or monitored
Schroder Investment Management Limited
31 Gresham Street, London EC2V 7Q
Telephone +44 (0)20 7658 6000 Fax +44 (0)20 7658 6965 www.schroders.com
For further information please contact:
Georgina Robertson, International PR
0044 (0)207 658 6168 georgina.robertson@schroders.com
Additional tables are available upon request. The research was undertaken by YouGov in September 2011 among a representative sample of affluent investors spanning 10 European countries.
Schroders plc
Schroders is a global asset management company with billion
£182.2bn (€211.6 billion, $283.9 billion) under management as
at 30 September, 2011. Our clients are major financial
institutions including pension funds, banks and insurance
companies, local and public authorities, governments,
charities, high net worth individuals and retail
investors.
With one of the largest networks of offices of any dedicated
asset management company, we operate from 32 offices in 25
countries across Europe, the Americas, Asia and the Middle
East.
Schroders has developed under stable ownership for over 200
years and long-term thinking governs our approach to
investing, building client relationships and growing our
business.
Further information about Schroders can be found at www.schroders.comor on Schroders
Talking Point www.schroders.com/talkingpoint.
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ENDS
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