Recession stunts a third of retirement plans

The consultancy said fewer than four in 10 feel comfortable having to manage this responsibility. It said about 21% of private sector employees believe recent economic events mean they will have to work longer before they can afford to retire. A further 10% said they expected to retire when planned, but would have to scale back on their spending. Towers Watson senior consultant Paul Macro says: "Most employees today are aware that responsibility for managing their career and finances lies with themselves and they also recognise that, especially for pension planning, the shift towards ...