Prudential Reveals 1 in 3 UK Couples Know Nothing About Their Partner's Finances

LONDON, August 31, 2010 - Prudential has revealed new research that shows UK couples could be
risking poverty in old age because they are failing to talk to one another
about financial planning for their retirement.

The study found that nearly a third of couples (32 per cent) aged 40 and
above but not yet retired* say they don't know or understand the details of
their partner's retirement savings, with more than a fifth (22 per cent)
saying they have never talked to their partner about financial planning for
retirement.

The findings from new research commissioned by Prudential reveal that
women are even less likely than men to discuss financial planning for
retirement with partners, with almost a quarter of women (24 per cent) saying
they have never discussed this, compared to almost one in five men (19 per
cent).

And a further 12 per cent of women and 11 per cent of men say they know
nothing about their spouse or partner's finances - and they're not really
interested. This lack of interest could be compounding low levels of
financial awareness.

To help people prepare for their retirement, Prudential has produced a
decade-by-decade guide to the conversations couples need to have at
pru.co.uk/couplesconversations. Suggested subjects include making a will,
discussing pensions and how much to save, talking about when to retire,
working out retirement income (www.pru.co.uk/retirement_income/),
reviewing total savings, researching annuity options and when to buy,
checking National Insurance contributions, talking about housing options,
leaving an inheritance, and agreeing on long term care.

Andy Brown, investments director at Prudential, said: "It is incredible
that so many people do not know the details of their partner's retirement
savings. Essentially, this could mean millions of UK adults are banking on
hope as their core retirement strategy and are approaching what is arguably
the most important financial decision without a full understanding of their
household financial situation.

"It's astonishing that one in 10 men and women say they're not interested
in their partner's retirement savings arrangements. Firstly, couples should
strive to have open conversations with one another but they also should aim
to be constructive and use these conversations to begin laying the
foundations for their retirement planning. The reason this is so important is
because the longer retirement planning goes unresolved the harder it is for
couples later in life to try and get a decent financial retirement plan in
place."

When asked about their spouse or partner's finances, those in the North
admitted to having the lowest levels of awareness or understanding while
those in the South East and East Midlands claimed to have a much better
grasp.

Affluence plays a critical part in the extent to which couples talk to
each other. Almost three-quarters (73 per cent) of those surveyed who said
they had discussed financial planning for retirement with their partners
within the past year have a household income of more than GBP70,000 per annum
while half (50 per cent) of those surveyed have a household income of less
than GBP20,000 per year.

Notes to Editors:

*Survey conducted by Research Plus between 6-14 July 2010 among 1,172 UK
adults aged 40+ currently living with their spouse or partner. The research
used an online methodology.

About Prudential:

"Prudential" is a trading name of The Prudential Assurance Company
Limited, which is registered in England and Wales. This name is also used by
other companies within the Prudential Group, which between them provide a
range of financial products including annuities
(www.pru.co.uk/pensions_annuities/our_annuities/), life assurance,
bonds (www.pru.co.uk/investments/bonds/), pensions, investments
(www.pru.co.uk/investments/), a tax calculator and pension guide
(www.pru.co.uk/pensions_annuities/pension_guide/). Registered
Office at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454.
Authorised and regulated by the Financial Services Authority.

    PR Contact:
    Jonathan Akerman
    PR Manager
    Prudential
    3 Sheldon Square
    London
    W2 6PR
    +44(0)20-7150-3177

    www.pru.co.uk

PR Contact: Jonathan Akerman, PR Manager, Prudential, 3 Sheldon Square, London, W2 6PR, +44(0)20-7150-3177