'Perfect storm' set to ruin retirement plans

The insurer's fifth annual future of retirement study found people's short-term survival strategies in the midst of recession were creating a serious long-term pensions "downturn deficit". And it also says there was a continuing lack of pensions planning - which is being exacerbated by poor levels of financial understanding, education and access to advice. It says the consequence of these combined issues is that many people in the UK will struggle to make ends meet when they come to retire, unless they urgently review their priorities and planning. HSBC group chairman Stephen Green sa...