Retirement saving rates 'on the slide'
The rate at which British consumers are saving for retirement is slowing, according to a new report from investment manager Edward Jones.
Research carried out on behalf of the company recently found that more than 40 per cent of people around the country have reduced the scale of their saving contributions since the price of petrol first started "rocketing".
It was also established that the tendency to save less has been seen among groups of all ages and social classes and that almost one in four people are yet to start saving for retirement.
"It is imperative the government and all those involved in the pensions industry do all they can to keep driving the message home that people must continue to make provisions for their retirement," said retirement planning manager at Edward Jones, Andrew James.
Earlier this week, the Post Office urged British savers to find out how much interest they are being paid on their assets and to avoid low-paying accounts.
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