Britons are trailing behind the worldwide average when it comes to pension savings, warns a new report.
Datamonitor's Financial Services Consumer Insights (FSCI) Survey reveals 72% of Britons do not hold any pension savings, higher than the global average of 69%. Conducted in May and June, the survey asked 9,000 consumers across 15 countries about their attitude and behaviour towards saving. It found the UK in particular has a lost generation of pension savers, with almost 90% of 18-24 year olds not currently contributing to a pension policy. Meanwhile, the outlook for those approaching retirement is almost as bleak, with 68% of 50 to 64 year-olds in the UK not holding a pension...
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