Pensions a sticking point for 'silver surfers'

19/08/2009

Many over 50s are using the internet - but a large proportion of this group is not willing to deal with their pensions online.

According to new data from Just Retirement, around nine in ten older Britons use email - with one in five of this total aged over 70 years old.

Meanwhile, 85 per cent use the internet to read up on financial affairs and get advice.

Despite these high rates, only a third said that they would be willing to change any of their pension arrangements on the internet.

The remainder preferred instead to use the telephone or have a face-to-face meeting with their provider.

Nigel Barlow at Just Retirement commented: "Checking personal information such as pension details online is a convenient and flexible way for an investor to monitor their portfolio on a regular basis.

"Although no system is 100 per cent safe online security is constantly improving, we are confident that the third generation will eventually endorse the internet as a means to manage their personal finances moving forward."

Tags; Debt Management and Banking, Retirement Money Problems,

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