37% of over 50s fear cost of living rises and pension values falling in no-deal Brexit

Over a third (37%) of over 50s said they think the UK will leave the European Union (EU) without a deal, with their biggest concerns being the rise of living costs and pension values falling, new research has revealed.

The data published by SunLife highlighted that many over 50s are uncertain of how the UK will leave the union, while 32% are of the belief that Britain will agree a deal “of some sort”.

Just under half (46%) of the respondents claimed that they think the Brexit deadline of 29 March will be extended.

However, while a majority (52%) of the respondents do not think there will be a second referendum, if there were to be, their opinion on whether we should leave or not have “barely changed”.

Of the 53% of respondents that voted leave in the 2016 referendum, 87% would vote to leave again, 7.2% would change their vote to remain and 6% would refuse to vote. Of the 42% that voted remain, 82% would still vote to remain, though 16% would change their vote to leave.

In terms of their hopes and fears about Brexit, the biggest concerns of the over 50s are the cost of living and pensions, while their biggest hope is for an independent Britain, followed by the financial benefit of saving the EU membership fee.

Commenting, SunLife marketing director Ian Atkinson said: “Regardless of whether people over 50 think the process is being handled well or not, our research reveals that they are not flighty, make-a-decision-on-a-whim types. They have principles and beliefs which stand firm, whatever the storm.

“However, while over 50s - like the rest of the UK - remain divided on Brexit, money seems to be the main concern for both in a post-Brexit world, with the value of pensions falling, houses prices falling and the cost of living rising all top concerns for both sides of the debate.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.