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Compare credit cards, mortgages, savings and ISAs with the Which? Money comparison site.
Which? exists to make people as powerful as the organisations that affect their lives. We don't accept any advertising, freebies or sponsorship. All our research and campaigning is completely independent and funded by subscriptions.
As pension reform passes through Parliament, Which?'s tracking gives the latest data on how consumers feel about retirement.
Six in 10 people are worried about the value of their pension and many are lacking confidence they will have enough for retirement. Twice as many consumers (who are not yet retired) lack confident they will have enough to live comfortably in retirement (60%) than those who are confident (28%).
Just 44% of working age people say they are currently saving into a pension.
How many people are cutting back spending on essentials?
Which?’s tracking shows that consumers top three concerns are energy prices, food prices and fuel prices and many people are worried about living standards. Our latest research sheds light on how consumer spending patterns have been impacted by rising prices.
Energy prices have outstripped inflation with an average increase of 137% in the last ten years, compared to 27% CPI. This means that, although consumers are using 17% less energy now they are paying on average £410 extra on their energy bills, after inflation, compared to ten years ago.
Prices on fuel and food have increased substantially above inflation – with prices rising by 80% and 42% respectively in the last ten years.
Top consumer worries
How many people think the UK economy will get better in the next year?
Worry about essential costs remains high. In addition, many consumers are concerned about their longer-term financial situations.
6 in 10 people are worried about interest rates on their savings and the same proportion are worried about the value of their pensions. Half the population is worried about mortgage rates, including 65% of mortgage holders who are worried about mortgage rates.