Standard Life Reveals That One in Six Don't Plan Their Future Finances

By Standard Life, PRNE
Thursday, May 19, 2011

EDINBURGH, Scotland, May 20, 2011 - Standard Life has found that people in the UK live for the moment rather
than the long term, with more than one in six (17%) failing to plan their
finances at all, according to recent research from the savings and
investments company.

The research, which looks into the UK's fascination with living for now,
finds that almost half of Brits (45%) only plan their finances just a year
ahead, or less, with only a fifth of them (22%) planning up to five years
into the future. Alarmingly, only one in six people (16%) plan more than six
years ahead which underlines the real necessity for the UK to start
addressing their long term savings ( plan. Doing this is
critical if they are to be financially secure, achieve their future goals and
live the lifestyle they want.

Of the UK regions, it was found that those from London were the top
financial planners, with one in six (17%) planning six years or more ahead.
In contrast, those from Scotland came out as the least likely to make long
term financial plans, with only one in ten (11%) planning more than six years

To find out more about the nation's attitudes to planning for the future,
Standard Life is launching a UK-wide poll and prize draw and linking up with
boutique hotel specialist Entrants have to vote on which prize
they would prefer; a short break this year with accommodation from, or a holiday of a lifetime in five years. The results will show
whether people in the UK favour instant gratification or greater long term
rewards. This issue of desiring instant gratification presents an on-going
challenge for the UK because people are living longer and their financial
security cannot be guaranteed. It represents a huge challenge for providers
and advisers who are keen to help consumers plan ahead so they can look to
the future with confidence and optimism.

Bruce Kelsall, group and UK marketing director at Standard Life, said:
"The growth in our ageing population has created a dramatic need to shift
from a culture of spending to one of saving. People are completely
comfortable making financial plans for a summer holiday; planning and
investing in your future is no different. You may have to finance your
lifestyle up to the age of 90 or even longer and while planning for this
eventuality is essential, it needn't be stressful. Even the smallest actions
now can have a dramatic effect on your long term finances."

Notes to Editors:

About Standard Life (

Standard Life is a leading long term savings and investments company
headquartered in Edinburgh and operating internationally. Established in
1825, Standard Life provides life assurance, annuities, savings products such
as an ISA (,
investment funds, tax efficiencies, pensions including self-invested
personal pensions (SIPP) company pensions and employer pensions, and
investment management to around 6 million customers worldwide.

(Due to the length of this URL, it may be necessary to copy and paste
this hyperlink into your Internet browser's URL address field. Remove the
space if one exists.)

Standard Life also offers finance tools (
to help with things like pension planning (

All figures, are from research carried out for Standard Life by YouGov.
Total sample size was 2057 adults in the UK. Fieldwork was undertaken
between 23-25 March 2011. The survey was carried out online.

Standard Life has linked up with boutique hotel specialist
to provide accommodation for the short break prize. If that's what the
prize-winner has voted for, they will be able to choose from 1300
unique places to stay on the site.

The poll and prize draw are live and can be entered by visiting

    Press Contact:
    Nicki Lundy
    Public Relations Manager
    Standard Life plc
    Ground Floor
    Caledonian Exchange
    19a Canning Street
    EH3 8EG


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