Retirees are “holding their nerve” throughout the current volatility in markets and remain invested in stocks.
A high proportion (67%) said that they aren’t taking any action as a result of market volatility and leaving their money where it is.
Nick Dixon, investment director at Aegon – which carried out the survey – said the current downturn in markets “will undoubtedly test the nerves” of retired investors.
“It is positive to see that overall retirees aren’t phased by current market conditions, but this shouldn’t turn into complacency. Retired investors would be wise to reassess their pensions, with the help of a financial adviser, to consider the amount of money they are taking out of their pension pot and ensure their investments are diversified enough.”
Just over 40% of retirees said they were concerned about the impact of current market conditions on the sustainability of their retirement income, but just one in ten were reassessing their investment strategies in order to diversify.
Aegon surveyed 650 adults of retirement age.
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