Almost half of all UK workers do not know about Government tax incentives for pension saving, according to B&CE Benefit Schemes.
Research by B&CE found around one in five consumers save for their retirement via alternative means. Workers are often using property or ISAs for their retirement income, but 28% are using normal deposit savings accounts. Property is one of the most popular ways to save for retirement, with 44% choosing this form of investment. Many believe they will have greater control over this type of investment, the research revealed. ISAs are also popular as they do not pay tax on interest, but two thirds of ISA savers also contribute to a pension scheme as well, while 30% of pension contributor...
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