Pensions savings have hit their lowest levels since 2006 as the long term effects of the downturn start to impact on savers' retirement plans, according to research by Scottish Widows.
Later-life saving has been rising slowly in recent years but has taken a dramatic drop since 2009 to hit its lowest level for four years, according to the sixth annual Scottish Widows UK Pensions Report 2010. Of those saving less, 41% blame the economic downturn while 18% say the recession has put retirement lower on their list of priorities. Since 2009, the number of people saving adequately has fallen 6% to 48%, according to the Scottish Widows pensions index, which tracks the percentage saving adequately for retirement. In addition, the index suggests a fifth (21%) of people wh...
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