Pensions crisis could hit millions says Saga

Retirement care costs need to be factored into pension pots or people will be left struggling to survive. Long-term retirement planning is vital to ensure that pensioners have access to sufficient funds when they leave work. Millions of future pensioners may have to spend their retirement in poverty if the current system is not redesigned, according to a new study. The CII Retirement Savings Report, revealed by over-50s service provider Saga, highlights that at least a quarter of 65-year-olds require over £50,000 each to spend on care.