Policy pushes and the public's desire to own a home is resulting in a 15% reduced private pension income at retirement, research has suggested.
Households with mortgages see their savings hindered by the need to keep up the regular payments, according to a joint report by the National Institute of Economic and Social Research (NIESR) and the Association of British Insurers (ABI). These costs are "crowding out other forms of long-term savings and investment, with potentially significant repercussions for individual pension savings but also for the UK economy as a whole". The conclusions - made in Is an Englishman's home his pension? - are based on an analysis of the British Household Panel Survey, which covers 10,000 individua...
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