One in 10 pension savers expects to stop, pause or reduce pension contributions during the next year because of the worsening economic outlook, according to research by portfolio manager Brewin Dolphin.
The survey of more than 2,000 people shows 12% of people cite mortgage repayments as the reason for taking a pension contribution break in the past, echoing research earlier this month from the FSA, which shows 20% of mortgage holders worry about meeting their repayments in the next year. The Brewin Dolphin research shows school fees and car repayments follow as reasons to stop contributions at 12% and paying off unsecured debt at 10%. The portfolio manager says more women than men pause or reduce their pension payments while in total, 20% of pension savers have stopped, paused or reduce...
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