Retirement: Pension savings fall to lowest level in years

A new report has shown that pension savings in the UK have hit their lowest level for eight years. The data produced by pension provider Scottish Widows, shows that only 46% of people are saving sufficiently for their retirement. This figure is down by 5% from the same time last year and by 8% since 2009. The Scottish Widows figures come on the back of a similar survey last week produced by LV=, which showed that over 6.25 million people, currently aged over 50, will retire with the State Pension as their only form of income. You can read this story ...