Young people heading for old age poverty - Skandia

It says young people expect to retire by age 60 with enough income to live comfortably, but are currently not prepared to save or spend less. A survey of 1000 consumers shows 76% of people aged 22 – 34 would like to retire by age 60, and almost 60% expect to have enough income to retire comfortably, but just 43% have actually looked into retirement saving or investing. Only 21% expect the state pension will provide sufficient funds for retirement and 65% think it is up to them to make retirement provisions. The survey also shows 26% of 22 – 34 year-olds think it is too early to start s...