Scottish Widows: Half the nation not saving enough for retirement

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Scottish Widows: Half the nation not saving enough for retirement

Many Britons will not be able to fulfill their retirement dreams due to not saving adequately, research by Scottish Widows suggests.

According to its findings, 49 per cent of the nation is not saving enough to retire.

In addition, two-fifths of retired people who receive a lump sum spend it on clearing their mortgage or other debts.

Travel is the most popular activity for retired people, with 45 per cent going to explore other places.

But Scottish Widows warned that without saving enough ahead of time, many people will not be able to fund whatever plans they had for their retirement.

Earlier this month, Age Concern held a programme to help older people save money while using the internet.

The Tea and Biscuits scheme involved offering guidance and training about online shopping.

Gordon Lishman, director of Age Concern, said using the internet also had social benefits, enabling older people to communicate with friends and relatives as well as providing mental stimulation through online games.

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