Prudential pensions research: Savings not prioritised enough

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Prudential pensions research: Savings not prioritised enough

Prudential has claimed that not enough employees in the UK are prioritising their pensions savings.

According to research conducted by Prudential, 16 per cent of workers who already have a pensions account have reduced the amount of money they pay in of late.

It also predicted that the number of people who will rely on their savings as a source of income is set to rise to 27 per cent over the next ten years in comparison to 22 per cent at the present time.

"It's worrying that many people who have been working for years and saving for retirement seem to have given up hope and stopped paying into their pension," said Martyn Bogira, Prudential's director of defined contribution solutions.

Earlier this month, research conducted by the accountancy firm Wilkins Kennedy revealed that the number of pensioners filing for bankruptcy has increased over the last few years.

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