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Jabbed population more optimistic about their money

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21/04/2021
People who have already received their Covid-19 vaccination are more optimistic about their finances than those who are yet to get their jab.

That’s according to the latest ‘health and wealth tracker’ from Aego, which has been polling people on how they feel about their money since the start of the pandemic.

The poll found that 48% of those who had the vaccine believe now is the right time to invest in their pension, compared to just 39% of those who are yet to be vaccinated.

The study also found that those who had received the jab were less likely to be worried about their overall financial position. Around a third of those yet to be jabbed (30%) said they were concerned, but this dropped to less than a quarter (23%) of the vaccinated population.

Overall however, we appear to be in a better state when it comes to both our health and wealth. Across the population as a whole, one in three (34%) say they are concerned about their health, compared to almost half (47%) a year ago. Along similar lines, the overall number worried about their financial situation has dropped from 39% to 25% over the same period.

What’s more, the numbers looking to increase their pension contributions in the next six months have jumped from 7% to 12% over the last 12 months.

This comes after research found that people were opting out of their workplace pensions as a result of the pandemic, while data suggests that those who have passed the age of 55 are increasingly dipping into their pension pots since the arrival of Covid.

An injection of optimism

Steven Cameron, pensions director at Aegon, said that the vaccine programme has not only given people a sense that the end of the pandemic may be on the horizon, but it has also provided an injection of financial optimism about both their own finances and whether now is a smart time to invest.

He continued: “While optimism levels are particularly high among those who’ve received a vaccine, there have been big improvements in sentiment on nearly every measure since last March and even since December. With fewer people worried about their finances and their health, we could be on track for a bumper summer of spending if life returns to anything near normal in the coming months.”

The success of the vaccine programme has also been highlighted as a factor in the recent increase in inflation, though there have also been warnings about fake vaccine scams set up to con people out of their cash. 

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