Financial education and information is crucial for helping people plan sensibly for their retirement, Stephen Timms has told an EU presidency meeting in Brussels.
Speaking at the ‘Informed Choices: Retirement and Savings’ event in Belgium, Stephen Timms, the Minister for Pension Reform, said Europe was facing a huge challenge over the next 25 years, as the working age population will fall by 7%, while the number of people aged 65 and over will rise by 51%. He added that as we are living longer, we have higher expectations of our lifestyle in retirement. With at least three million people in the UK not saving enough for their retirement, the joint EU/UK Presidency event focused on the importance of financial education and information in retirement p...
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