Oct 13 2008
Some consumers in the UK are failing to save sufficiently for their retirement, it has been suggested.
According to Gordan Lishman, director of Age Concern, the fact that a number of high profile pension schemes have gone bust in recent years has contributed to a fall in the amount of money being saved by people for their post-work years.
He stated: "Government figures show that around seven million people are not saving enough for retirement. Public confidence in pensions has been rocked ... in recent years."
Mr Lishman went on to say that Age Concern recommends that people do not put off saving for their retirement and look into how much they need to put aside for the income they desire.
Meanwhile, figures produced by Saga earlier this year suggested that the average cost of a four-year stay in a care home is set to increase to £223,476 by 2028.
