48% are concerned about saving enough for retirement

Niall O'Callaghan 2009Almost half (48%) of respondents are concerned about saving enough for retirement, according to research by Mercer.

Its survey of 1,500 workers between the ages of 24 and 64 also found that 41% of respondents worry about whether they could provide for their family if impacted by illness or death.

The research also found:

  • 51% of respondents are worried about their ability to maintain a healthy lifestyle while holding down a job.
  • 33% of respondents are concerned about repaying their debts and getting on the property ladder.
  • 32% are concerned about their ability to support old and infirm relatives.
  • 61% of respondents would value their employer more if they helped them deal with stress, and 58% would value an employer who helped with providing financial and retirement planning advice.

Niall O’Callaghan (pictured), partner at Mercer, said: “Worry and stress impacts on health and it has an impact in the workplace affecting productivity and engagement. We all need to do what we can to ensure that employees are healthy and confident in their ability to manage their personal finances.

“Employers who proactively provide support and resources to help staff manage their own particular issues will see dividends in terms of improved productivity and morale, and lower staff turnover. These employers will be better placed to recruit and retain the most talented staff in a tightening labour market as the UK economy recovers.”