A National Pensions Savings Scheme (NPSS) is needed to help young people save for retirement, claims the Trades Union Congress (TUC).
While launching a new leaflet, explaining pension choices available, at the TUC Young Member’s Conference, the organisation warns young people are facing a poor retirement if they don’t start saving now. It claims only 26% of men and 33% of women between the ages of 18 and 24 have a pension, although nine out of the ten young workers who are saving, do so into an occupational pension scheme, which it says is most likely to provide a decent retirement income. The leaflet published by the TUC on Saturday explains the different kinds of pensions available, but points out to afford a decent...
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