UK private pensions industry 'under threat'

A survey of more than 2,000 people found 66% were opting for products other than traditional pensions to fund their lives after they're 65. The study also found nearly nine in ten believe it is important to save for the future, while 76% believe it is important to provide financial assets for their dependents’ future. Almost half feel they do not have enough money to save for their retirement but only 3% will rely on their state pension. Brian Please, director for UK insurance at Mastek, says: “People are losing faith in pensions as vehicles to provide for them in retirement and the indu...