The crisis currently being faced by the UK pensions industry is only likely to get worse, according to a warning from the Prudential Retirement Income Panel.
The panel, an influential team of financial services experts that are hosted by insurance company and FS group Prudential, predicted that the retirement income crisis in the UK is only set to get worse.
According to the panel, there are three central issues that are having an impact on the retirement plans of millions of people in the UK. These include the decline of occupational pensions, the need for many to cash in on equity in property before retirement, and a younger generation saddled with debt .
All of these factors together could have a catastrophic affect on the pensions industry, unless active changes are made.
Pension's crisis will get worse, UK warned
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Pension's crisis will get worse, UK warned
Thu, 23 Aug 2007
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