Rocketing petrol and food prices have caused around 43% of Britons to save less for their retirement, according to a survey by financial services company Edward Jones.
The research also shows a further 23% had not even started saving for their retirement. Figures are very similar across all age groups and social classes but there were some geographical differences. Those in the North were most likely to have reduced saving for retirement, 48%, while in London it was 39%. Andrew James, retirement planning manager at Edward Jones, says: “It’s a big concern that the research shows people of all ages and social classes are cutting back saving for retirement in order to pay for essentials. If this trend continues then we are just storing up even more probl...
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