Younger people fall behind older generation in saving for retirement

According to a new report people aged between 30 and 50 are falling behind in saving for retirement. A survey by pension provider Scottish Widows found that 59% of those over 50 were making provision for their retirement, whereas only 47% of those between 30 and 50 were doing so. Even more worryingly around 20% of the 5,200 people surveyed are making no provision whatsoever for their retirement. Nearly half were making some provision for their retirement but not putting away an adequate amount into a pension. Despite the relatively low level of saving for retirement the survey found that the average person ...