Shock on pensions

THE UK's looming pension's crisis has been further underlined by the findings of a new survey showing 30 per cent of people aged 45 – 54 and 12 percent of those over 55 have not started saving for their retirement.
By The Newsroom
Published 28th Aug 2007, 11:26 BST

The research was undertaken by YouGov for financial services company Edward Jones.

Andrew James, retirement planning manager at Edward Jones, said: “The most worrying aspect is the high proportion of middle aged people who have made no provision for their retirement.

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“They are the very category who will find it most difficult to make adequate provision simply because time is running out.

“Those people are from a generation brought up to believe the state would provide them with a good standard of living in their retirement which is simply not the case today. I fear many of them may be working past normal retirement age.”