Report points to 'confusion' over retirement saving
A new report has highlighted some of the ways in which UK consumers are confused about their options in saving for retirement.
Figures compiled by HSBC have suggested that only 46 per cent of British women are aware that their husband can contribute to a pension scheme on their behalf, while 38 per cent mistakenly believe they have to be employed to save for retirement.
Any individual can use their own money to boost the pension saving pot of another person but this fact has escaped the attention of almost two-thirds of women living in the UK, according to the latest research.
"Many women are potentially missing out as they are still confused about when they can pay into pensions and who can pay into pensions," said Ian Martin, head of HSBC's retirement business in the UK.
According to a study carried out on behalf of the Saga Group recently, only around 38 per cent of Britons are willing to openly discuss the progress they are making in saving for retirement.
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