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Daily Insurance Industry News
Tuesday 24th of April 2018
May 29, 2009

Pensions crisis looming with 50% saving nothing

by David Masters

Story link: Pensions crisis looming with 50% saving nothing

Half of Brits aged 20 to 60 risk a postponed retirement by not putting any savings into a pension fund, according to the results of a new BBC survey.

Only one in three of those under thirty are putting money in a pension pot.

Even in the older age group of 41 to 60 year olds, 45% are failing to save for their retirement.

Redundancy has put an end to saving a pension for many Brits, whilst a number of stay-at-home mums have never signed up for a private pension.

Of the under-30s surveyed, many said they cannot afford to invest for the future because they’re still paying off their student loan.

Sixty percent of those polled said they would continue to work beyond the state pension age to build up a bigger pension fund.

 

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