UK fails to save for pension

The number of people in the UK saving adequately for their retirement has dropped by almost 10% in the last year, according to research by Scottish Widows. The Scottish Widows UK Pension index, which tracks the percentage of the population saving for retirement, found that only 46% of people were saving the appropriate amount in 2006, compared to 55% in 2005. Iain Naismith, head of pension market development at Scottish Widows, said: "The deterioration in the index and the ratio is very disappointing considering how high profile pensions have been in the last 12 months. "Figures show th...