A growing number of people in the UK have caught on to the pension crisis facing them if they do not start saving for retirement, ABI research reveals.
The Association of British Insurers reveals in its State of the Nation’s Savings 2004 report 42% of people are now prepared to shoulder the main burden for providing for their retirement income. This figure is up from last year's 35%. Almost half (47%) of people questioned believe extra spending on state pension provision should help those who cannot afford to save and encourage people who can save to do so, according to ABI study. While this is encouraging on the back of the damning Turner report last month, 7.4 million employees are still around £27bn short in saving for their reti...
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