UK consumers are under heavy
pressure and it is showing in one of the worst ways possible:
deferment, or even abandonment, of saving for
retirement.
This is the worrying finding
of a national survey conducted by Prudential.
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According to the UK life
insurer, 35% of British adults who are yet to retire have stopped
paying into their pension savings programmes.
One in three of those who
have put pension payments on hold have done so because they are out
of work while 27% say that they can no longer afford the
contributions.
Even more concerning is that 43% of consumers who have
stopped paying into their pension savings programmes stated that
they do not plan to start saving again.
