People who have retired are increasingly looking towards investing their pension in the stock market, new research has suggested.
According to a study by Prudential, over one in three people (35 per cent) chose the stock market and other investments when asked where they would like their pension to be put in the future.
Director of investment funds at the organisation Andy Brown said older people are keen to explore the potential monetary returns on stock market exchanges, despite recent fluctuations.
He remarked: “I think investors can feel confident in stock market opportunities if they are given a decent choice in how they access real assets such as the equity market.”
The figures also showed that 22 per cent have no idea where they would like to place their money, while 29 per cent prefer cash or low-risk investment.
Last month, Lincoln Financial Group found that 23 per cent of people are prevented from saving into a pension due to financial difficulty.
By Francis Finch