A quarter of British adults interviewed said they were open to cryptography part of their retirement plans, suggesting that crypto could claim a larger share of the retirement fund of several dollars in the United Kingdom.
British insurance company Aviva said on Tuesday that its survey of 2,000 British adults found that 27% were open to crypto in their retirement funds, with just over 40% of people open to the crypto saying that they were motivated by higher potential yields.
The survey, which was conducted by the census from June 4 to 6, also revealed that 23% of all those questioned said that they would consider withdrawing a part, or all of their existing pension to invest in the crypto.
Investments in crypto in retirement plans in the United Kingdom could see much more capital in space, with more than four adults out of five British having pensions of a total value of 3.8 billions of British books (5.12 billions of dollars).
However, British adults have limited options to add crypto to their pension funds.
The survey came while US President Donald Trump has signed an executive decree earlier this month allowing American retirement plans 401 (K) to include Bitcoin (BTC) and other cryptocurrencies, opening access to more than 9 billions of dollars in assets.
A fifth of British adults already grown in crypto
Aviva said that around one in five interviewed, equivalent to around 11.6 million people, said they have or owned the crypto. About two -thirds said they still had crypto to some extent.
Nearly a fifth of British adults aged 25 to 34 said they had already withdrawn retirement funds to invest in the crypto.
British are still concerned about cryptographic risks
Respondents cited security risks, such as piracy and phishing attacks, and the lack of regulation and crypto protection as the largest concern 41%and 37%respectively, while the volatility of cryptography was reported as the third greatest concern at 30%.
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The director general of Aviva’s wealth and advice, Michele Golunska, said it was easy to see why Crypto has become an attractive investment option in recent years, but pensions are still offering significant advantages.
“We must not forget the value of the good old pension. It is delivered with powerful advantages, such as employers’ contributions and tax alternatives, which can make a real difference for your long-term financial well-being.”
Many British adults are aware of the risks
Almost one of the respondents said they were interested in the crypto, but admitted that they did not fully understand the advantages they can abandon by taking their pensions, while 27% did not realize that there were risks involved.
The United Kingdom has progressed with caution with the regulation of cryptography, after having unveiled a framework proposed in May which would see exchanges of crypto, dealers and agents treated similar to tradfi companies, with strong compliance controls particularly focused on transparency and consumer protection.
British banks seem to have slowed down the adoption, 40% of the 2,000 investors in recently questioned cryptography saying that their banks had blocked or delayed a payment to a crypto supplier.
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