Workers begin to invest in pensions

Thu, 09 Aug 2007

A high proportion of workers are investing in their futures by saving for their retirement with pension schemes, a survey has revealed.

Conducted by YouGov, it was found that 46 per cent of 25 to 34-year olds and 57 per cent of those aged 35 to 44 have begun saving for their retirement.

However, 30 per cent of 45 to 54-year olds and 12 per cent of over-55s have not begun investing into their future by saving money for when they retire.

Andrew James, the retirement planning manager at Edward Jones, commented that the number of middle aged people who have made no contribution to their pensions is "worrying".

"We would also like to see clearer guidelines on pension rules to allow the industry time to talk to people about saving for the long-term and helping to educate individuals in the UK about how tax efficient saving for retirement can be," he remarked.

Pensioners were advised by Age Concern yesterday to ensure they had a good home insurance policy and a secure house as they are particularly at risk from burglary if they go away for an extended period over the summer.

add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house, Mortgages.co.uk; insuring your car - CarInsurances.co.uk; your life - LifeInsurance.co.uk; and your home - HomeInsurance.co.uk.

1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.

Join the Pensions NewsletterPensions Newsletter

Please enter your email below and subscribe to our monthly newsletter

Save money on your mortgageSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.