Halifax pensions advice issued
The latest research from Halifax has revealed that many Britons are not paying enough into their retirement pensions.
Halifax has revealed that more than half (52 per cent) of people in the UK do not put money aside in retirement pensions.Furthermore, the average consumer is willing to save just £59 a month for their retirement, though most are unable to even do this until the age of 32.
Coupled with this lack of saving is an unrealistic expectation of what the state can provide. More than two-thirds believe the state pension is higher than its current level of £4,716 a year.
Karen Crowshaw, managing director of Halifax Financial Services, said it is vital that people take pensions advice, particularly in such difficult financial times.
"It may be a natural assumption for many to delay saving for retirement when faced with day-to-day expenses, but it is important that retirement plans do not bear the full brunt of the current economic climate," she explained.
Other research by Halifax recently revealed that some of the healthiest and longest-living residents in the UK can be found in Mid-Suffolk - giving it the best quality of life of all rural areas in the UK.
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