Pensions investment more important than happiness, says expert

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Pensions investment more important than happiness, says expert

Joanne Segars, chief executive for the National Association of Pension Funds (NAPF), observed that pension funding "lays the foundation" for wellbeing, providing happiness and ensuring health.

She added: "The challenge for the next decade is closing the gap between what people want in retirement and how confident they are in getting it, even more so for women."

An NAPF survey revealed almost three-quarters of workers said financial security would make them happy, but only 34 per cent were sure this lifestyle is assured.

According to the National Audit Office (NAO), the number of public service retirees increased nearly 40 per cent in the last decade and cost £19.3 billion in 2008-09 alone.

It is thought by the NAO that the increasing number of pensioners is not only caused by the longer lifespan of the older generation but by the greater number of people retiring each year.

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