Pension fears growing
Financial fears are growing among Britons saving for retirement, according to a new report from Scottish Widows.
The company's latest pensions index shows that the proportion of people worried about not having enough money in retirement has risen by three per cent to 37 per cent in the past 12 months.
Pressures on family finances are increasing as the credit crunch bites and four out of ten respondents to Scottish Widows' study said they felt better off five years ago than they do now.
"While pensions savings are slowly starting to rise, there is still the real worry that in the current economic environment the nation is not doing enough to prepare for retirement," said Ian Naismith, head of pensions market development at Scottish Widows.
According to Friends Provident, only three per cent of people saving for retirement in the UK feel that the state pension would be enough for them to live on.
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