Pension 'poverty hotspots revealed'
Some areas in the UK are poverty hotspots for pensioners, according to recent research.
Figures by JPMorgan Invest claim that 64 per cent of employees in the UK will have a final pension of 40 per cent or less of their final salary, when measured against the cost of living.
However, this figure varies from 59 per cent in the north-east of the country to 67 per cent in the east, while 14 per cent of people nationwide will be able to afford what the company terms a "comfortable" retirement.
David Cassidy, chief executive of JPMorgan Invest, said: "There is an urgent need to educate the workforce on how they should plan and save for a better standard of retirement."
He added that one of the primary spheres for this education should be a worker's place of employment.
Winterthur Life recently claimed that employee communication can increase take up of pension schemes from under 40 per cent to nearly 90 per cent.
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