Covid-19 hits older workers' retirement saving plans

The retirement provider has tracked the effects of the pandemic on retirement for the last year and found that in August 2020 hardly any (2%) pre-retirees were actively planning to save less for their retirement. According to its latest findings however, almost one in eight (12%) are saving less a year on from the first national lockdown. They also show that workers over the age of 50 have decreased their pension savings by £142 a month on average in response to the pressure the pandemic has placed on their finances. For many people in the UK who contribute into their employers' defin...