Latest figures from the Government suggest as many as 12 million people are currently failing to save adequately for their retirement. This has potentially serious consequences, not only for the individuals themselves, but also the workers and taxpayers of the future. |
We hope that by and highlighting the extent of the problem, people will accept they need to save more, during their working life, to protect themselves from financial hardship and secure more financially comfortable retirement. Malcolm McLean, Senior Consultant at Barnett Waddingham, believes that Pensions Awareness Day is an important campaign for the industry, he said; “Having a dedicated Pension Awareness Day is a very necessary and laudable initiative, which we in the industry should all support. “It is also an opportunity, in my view, to examine more critically why people are not saving and what it is about our pension system that needs to change over the longer term. Especially if we are going to materially improve public awareness and lift pension saving to a much more acceptable level than seems possible at the present time.
“In essence what we need is: |
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