PENSION WARNING: More than 13 MILLION working Brits could be heading for a shortfall
The Pensions and Lifetime Savings Association (PLSA), which released the findings, said minimum contribution rates into workplace pensions should be increased to “at least” 12 per cent to help remedy this.
It said automatic enrolment into workplace pensions, which started in 2012, is working well and will deliver a real improvement to the retirement incomes of millions of workers.
But it said currently, many people are not on target to reach an adequate retirement income as defined by the Pensions Commission over a decade ago - around two-thirds (67 per cent) of pre-retirement income for a... read more
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