Almost half (49pc) of UK workers are not saving adequately for retirement, according to research from Scottish Widows.
The Scottish Widows UK Pensions Report 2008 also found that, among current retirees, one in six (17pc) who received a tax-free lump sum from their pension used it to pay off a mortgage, while a quarter (24pc) used it to pay off other debts. Ian Naismith, head of pensions market development at Scottish Widows, said: "It is encouraging to see that so many people are enjoying themselves after they retire, but it is vital that people who are still working realise the difference between wanting a good retirement and actually planning for one. It's a shame that some people need to spend their ...
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