- Nearly a quarter of pensioners are either mulling over withdrawing money from it or stopping paying in or decreasing their contributions due to financial headwinds.
- A survey has shown that 38% of people aged between 25 and 34 are likely to make changes to relieve their present financial situation.
Amid the pressures arising from the cost-of-living crisis, people are taking several steps to minimise its impact and have money to spend on essentials. Some are cutting down on non-essential spending, while many in the low-income group are cutting down on necessities like energy and food as well. Overall, Brits are finding ways to save money.
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As per a new survey, almost a quarter of pensioners are either mulling withdrawing money from it, or stop paying in, or decreasing their contributions due to financial headwinds. The research from Aviva also found that more than four out of ten people in the 16-24 age group, and 38% of those aged between 25 and 34 years, are likely to make changes to relieve their present financial situation.
The survey included more than 2,000 people and was conducted between late September and early October.
Let's take a look at some pension stock in the wake of this survey.
Barclays Plc (LON: BARC)
Barclays is a leading financial services provider in the UK. It also provides multiple pension services to its customers. BARC is an FTSE 100 index with a market cap of £25,191.71 million. As of 7 December, the stock has an EPS of 0.38, which has depreciated by more than 15% over the past year. Shares of the company were trading at GBX 158.70, marginally down by 0.04% as of 9:41 am GMT on Wednesday.
AJ Bell Plc (LON: AJB)
The FTSE 250 constituent offers customers investment solutions and other financial services, including pension services. It has a market cap of £1,516.93 million and an EPS of 0.11 as of 7 December. The stock's 12-month return is in the red at -4.38%. AJB shares traded at GBX 362.80, down 1.68% as of 9:49 am GMT on Wednesday.
Aviva Plc (LON: AV.)
Aviva is a leading financial services provider and belongs to the FTSE 100 index. The company enjoys a market capitalisation of £12,451.88 million. Its EPS stood at 0.50 as of 7 December. The company's stocks traded at GBX 442.70, down 0.34% as of 9:54 am GMT on Wednesday.
XPS Pensions Group Plc (LON: XPS)
Another FTSE-listed financial services company that offers pension services is XPS Pensions Group. With a market cap of £292.49 million, the company belongs to the FTSE All-Share index. Its share value has appreciated by 2.94% over the past year. XPS shares were down 0.71% at GBX 140.00 as of 9:59 am GMT on Wednesday.
PensionBee Group Plc (LON: PBEE)
PensionBee is among the leading online pension services providers in the UK and has a market cap of £106.94 million. The stock price has tumbled more than 60% in the past year. As of 10:01 am GMT on Wednesday, the stock traded 1.88% lower at GBX 47.10.
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