Couples reveal disturbing lack of knowledge of partners' finances

Click to follow
The Independent Online

Nearly a third of people in long-term relationships say they have no idea of their partners' finances, according to a survey from insurer Prudential.

More than a fifth say that they have never had a conversation with their partner over financial plans for retirement despite the fact that up to 12 million Britons have no money put away for old age.

One in 10 say that they have no interest in either topic. "It's astonishing that one in 10 men and women say they're not interested in their partner's retirement savings arrangements," said Andy Brown, right, Prudential's investment director. "Essentially, this could mean millions of UK adults are banking on hope as their core retirement strategy and are approaching what is arguably the most important financial decision without a full understanding of their household financial situation.

"The reason this is so important is that the longer retirement planning goes unresolved, the harder it is for couples later in life to try to get a decent financial retirement plan in place."

The Prudential survey revealed stark regional differences. Half of those questioned in the North-east of England said they had no idea of their partner's financial position, and 23 per cent of people living in the South-east expressed a similar lack of knowledge.

Looking for credit card or current account deals? Search here