Retirement savings at lowest for 10 years
The Department for Work and Pensions has published research showing that savings into retirement pensions has dropped to the lowest rate for 10 years. Obviously this is not surprising given the state of the economy, but is also part of a broader trend. The research shows that only 38% of working age people are saving into a personal pension or retirement plan.
The general decline in the rate of retirement savings is greatest amongst men and the under 40s. In general you should be thinking about how you will fund your retirement when you get there, and the earlier you start, the better your retirement should be.
