Public must be encouraged to save - Pensions Minister

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Reminding the public of the importance of pension savings, even in an economic downturn, is the biggest challenge facing the pensions industry, according to the Pensions Minister.

Speaking at the Professional Pensions Show, Pensions Minister Rosie Winterton, says the Government has done what it can to remove financial and administrative burdens for pension schemes, but says public attitudes to savings are crucial. "It is interesting that until recently marketing encouraging borrowing has outstripped marketing encouraging saving by three to one," she says. "Accepting that people are not saving enough and those who are saving are considering their options, we need to be united in our message that pension saving is for the long-term and one of the best ways of pro...

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