Mar 2 2007
Britons start saving for their pension at an earlier age than citizens of other nations worldwide, it has been claimed.
Recently published research from financial services provider Axa reveals that Britons start planning for retirement at the average age of 28, while workers in other surveyed nations wait until their 30s.
According to the study, Americans will wait until they are 30 before they start pension saving, with Australians, French people and Germans beginning to save when they are 31 and Spaniards waiting until their 33rd birthday.
Steve Folkard, head of pensions and savings policy at Axa, said: "It's exciting to see people starting to take more responsibility for their own income in retirement."
He added that it was unsurprising that Europeans favoured the introduction of a common pensions system, noting that pensioners in the UK tend to have a larger amount of disposable income.
Last month, Scottish Widows revealed that 74 per cent of self-employed workers in the UK are not saving for their retirement.
