Personal pension drop off spells trouble for future retirees

Figures from the Office for National Statistics (ONS) showed number of people contributing to personal pensions continued to fall, from 6.4 million in 2008/09 to 6.0 million in 2009/10. In 2010 there were 8.3 million active members of occupational pension schemes, the lowest level since the 1950s. Andy Zanelli, head of retirement planning, Axa Wealth, said there had been a 6% drop off in personal pension saving. He said: "This drop in private pension contributions is indicative of the difficult economic times across the UK, but is further evidence of a worrying trend. "It is und...