Work pensions 'improve quality' of later life

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Work pensions 'improve quality' of later life

Fri 29th Jan 2010

Paying into a pension during your career will lead to a better quality of life in old age, it has been asserted.

Mark Brooks, spokesman for the National Association of Pension Funds, said that as pensions can make a dramatic difference to the type of lifestyle people enjoy in their old age, it is vital that they have access to a pensions scheme and that they are taking advantage of it.

"We believe that everyone should have a good quality, affordable workplace pension," Mr Brooks stated.

He continued that pension programmes will help to reduce the number of people who are reliant on the state in their old age because they have not built up sufficient savings during their working lives.

These comments come after the news from Prudential that around 18 per cent of the people planning to retire this year are intending on living off their state pension alone.

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