Poor products the cause of savings gap, say consumers

Most consumers say they would be more likely to save if products were more flexible and easier to understand, according to the survey of more than 2,000 UK adults by the Institute of Financial Planning (IFP) and NS&I. Some 87% of respondents cited this as either the only or a contributory reason behind their lack of savings, despite almost 60% admitting they are worried about their finances. Earlier this year, a report by insurance giant Aviva, said Britons would need to find more than £300bn if they are to retire on the recommended 70% of their salaries. Fewer people have financia...