Government called on to raise AE contribution level

The provider of The People's Pension said an alarming number of people are only making the minimum contributions towards their retirement, which is not enough. The report, Pensions Adequacy: A Pension Saver's Perspective, found over half of AE pension savers (57%) were merely making the minimum employee contributions. Furthermore, two thirds (65%) were receiving the minimum contributions from their employers. According to the Pension and Lifetime Savings Association's Retirement Living Standards, savers will need to have saved £10,900 a year for a ‘basic' level of retirement. For a ‘m...