The UK's small business owners have unrealistic expectations of their pension funds, according to a report by the Forum of Private Business and Clifton Asset Management. Click here to enter, and make sure you get involved today using the hashtag #BSBAwards. The survey found that over half of Forum business owners expect a pension pot of under £500,000 ($624,400) to fund their retirements. Furthermore, 45% of business owners polled fear that they will outlive their funds for retirement, while 59% expect to sell their businesses to finance their retirement. In contrast, only 16% of UK workers believe their pensions are sufficient to cover all or most of their retirement needs.
The UK's small business owners have unrealistic expectations of their pension funds, according to a report by the Forum of Private Business and Clifton Asset Management. The survey found that over half of Forum business owners expect a pension pot of under £500,000 ($624,400) to fund their retirements. Furthermore, 45% of business owners polled fear that they will outlive their funds for retirement, while 59% expect to sell their businesses to finance their retirement. In contrast, only 16% of UK workers believe their pensions are sufficient to cover all or most of their retirement needs.