25 Jan, 2008
Nicole Blackmore -
than 1.8 million over-55s consider shares as an alternative to
pensions, according to research by Lincoln Financial Group.
The group says consumers who put money directly into shares and
unit trusts, or invest via ISAs and PEPs instead of saving into a
recognised pension scheme are risking their retirement income.
Lincoln's research shows 26 per cent of those aged-55 plus who
invest in shares regard their investments as an alternative to
their pension and 21 per cent of those are considering increasing
the money they have invested in the stock market.
Lincoln Financial Group head of product and marketing Simon
O'Connor says some people are playing a very dangerous game.
He says: "Stock market volatility this year has been pronounced and
the recent past has seen four years in which the FTSE-100 has ended
the year down. In fact the FTSE has still not returned to its high
at the end of 1999.
"Long-term investment is the key to successful retirement income
planning and pensions are the ideal vehicle to deliver the
retirement income aspirations of savers. The tax advantages alone
make pension saving demonstrably superior to direct stock market