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High proportion of UK couples 'do not discuss financial planning'



Many couples in the UK aged over 40 are avoiding discussions related to financial planning for retirement, according to new research.

Prudential claims that individuals are putting their monetary stability at risk in their later years by sidelining conversation about such subjects.

It found that a third of over-40s in a relationship have either no knowledge or do not fully understand the nature of their combined household savings.

More than a fifth said they have never had discussions with their spouse about any fiscal arrangements for old age.

Andy Brown, investments director at Prudential, said: "It is incredible that so many people do not know the details of their partner's retirement savings."

He went on to add that millions of couples are therefore approaching "what is arguably the most important financial decision without a full understanding of their household financial situation".

Meanwhile, research from Aviva has shown that 18 per cent of people set to retire believe that their adult children require monetary help.

Posted by Mark Phillips
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