PPI warns private savings will merely match State benefits

This problem also affects consumers saving a fair bit towards their pensions, as the first-third of their savings will be caught in the "means-testing trap", replacing what the Pensions Credit would have given them. Latest PPI Briefing Note - Why is it so difficult to save for retirement? - suggests many people will find themselves 'losing' out on their savings in the future given the low level of average pension saving, which will only be enough to cover the amount they would have received from the Pensions Credit if they wouldn't have saved at all. For example, a man who starts wor...