Under-50s admit poor preparation for retirement

The Scottish Widows Workplace Pensions Report 2010 finds while nearly half of the respondents over 50 are in final salary schemes, and largely relying on such provision for their retirement income, fewer than one-third of the under-30s are in such schemes. It also finds the younger generation are less engaged with their pensions despite needing to do more to provide for a comfortable retirement. Scottish Widows head of marketing communications for corporate pensions Ann Flynn explains: "Younger age groups are not engaging at all in the DC propositions that are being offered to them. ...