People in the UK are still not saving money as they should, the Investment Management Association found.
The survey suggests that saving money remains low on the list of priorities of adults in the UK, with many appearing stubbornly determined not to start saving money for their retirement pension.
A sixth of adults have no money saving vehicle, with a third not saving money on a monthly basis.
"There is clearly a long way to go before the savings message starts to resonate," commented Mona Patel, the head of communications of the Investment Management Association.
She also pointed out that it is particularly concerning that even though two-thirds of the population know about the benefits of saving money in an ISA, the majority do not take advantage of this.
Up to £7,000 can be invested tax-free in an ISA every year.
"Low levels of saving are one of the biggest challenges facing government and this survey highlights the continuing need to do more," Ms Patel added.
The Investment Management Association said its findings once again shows the need for the government to encourage members of the public to start saving money, particularly for their retirement pension.
Survey points out stubbornness to start saving money
Financial Services > Savings > Savings and Investments News
Survey points out stubbornness to start saving money
Wed, 10 Aug 2005
| savings news |
|---|
| ISA allowance saves consumers thousands - Fri, 12 Mar 2010 |
| Savings rates falling to fund mortgage cuts - Wed, 10 Mar 2010 |
| Savings accounts hit by latest base rate decision - Mon, 08 Mar 2010 |
| More News |
