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

Written by Oliver Wade
13/03/2019

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.”

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