Research by pensions firm shows fewer than half of workers over 30 are saving enough to guarantee a comfortable income
Workers in their 40s and 50s are trapped in a "perfect storm" of economic downturn and property debt that could force them to delay retirement until their 70s, it was claimed on Monday, as research showed a fall in the number of people saving enough for a comfortable old age.
Just 45% of people aged over 30 and earning at least £10,000 are making adequate provisions for retirement, according to Scottish Widows, a pensions provider. That is the lowest proportion in the nine years the company has been producing its annual pensions report. It said adequate savings would mean saving at least 12% of annual income.
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