MSN Money reports pensions calculator predictions

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MSN Money reports pensions calculator predictions

Mon 6th Dec 2010

A new study compiled by MSN Money shows how the UK public feel about their retirement prospects, with a source from the firm citing the effect of the recession on people's outlook as a contributing factor.

The study showed 74 per cent of Brits think the pension age in 2025 will have reached 70, while 83 per cent feel the cost of living will be higher by that time.

Simon Ward, money editor at MSN Money, suggested the results of the study indicate how passionate people in Britain are about their lives and said consumers may need to "watch their pennies" in the future if their predictions come true.

"Despite early signs that the UK economy is in a state of recovery, the findings are a testament to the severe effect the economic downturn has had," he added.

Last week, Saga director general Dr Ros Altmann called on the government to urgently introduce new legislation to protect savers, after a group of people were refused entry to the Pension Protection Fund on a "technicality".

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