Millions facing retirement struggle

Des Hamilton from the Pensions Advisory Service (TPAS) claims that there could be close to ten million employees around the country who have no savings put aside for their retirement at all.

And the proposals from the government to introduce a National Pensions Savings Scheme in 2012 would only provide a “minimal” level of financial security during retirement if introduced, Mr Hamilton suggests.

“It’s reckoned there’s something like eight to ten million employees in the UK at the moment who don’t have any form of pension arrangement available to them,” he said.

“It’s very difficult to see what these people are going to do in retirement.”

The warning from TPAS comes only weeks after the Consumer Credit Couselling Service reported that the burden of debt management problems is increasingly shifting on to Britain’s more elderly generations.


Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.