A new study has indicated that the current economic climate is having a detrimental effect on the amount people are placing into their savings for retirement .
The survey of more than 2,000 adults carried out by YouGov on behalf of Edward Jones revealed that 43 per cent of respondents currently working said they are saving less for their retirement due to rising living costs.
Meanwhile, the firm noted that some 23 per cent admitted to not having amassed any retirement savings at all yet.
Andrew James, retirement planning manager at Edward Jones, said it is a "big concern" that people appear to be cutting back on their savings for later life in order to get by.
"We all know the UK has a looming pensions crisis and this news just adds to the problem. It's also disheartening to see that 23 per cent of respondents have not saved a penny yet towards their retirement," he commented.
Fidelity International recently warned that the average worker in the UK is likely to be living on £215 per week when they retire .
Britons saving less for retirement, research shows
Britons saving less for retirement, research shows
Fri, 06 Jun 2008
Recommended links
Find the best savings accountsSavings enquiry form
Savings accounts guide
Pensions information protal
Pensions enquiry form
Pension planning guides
Retirement planning search results
Guide to switching savings accounts
Compare savings accounts
Savings providers
Savings accounts with passbook offer less interest
Less than 20% have rainy day savings, study shows
Workers saving less than 100 years ago, research finds
Britons not saving enough, NS&I finds
Britons should have six months' salary in savings accounts, expert advises
Numbers of Britons saving money down
Britons raid savings accounts', survey shows
Britons without savings and insurance are on thin ice
Britons put shopping before savings, study shows
Britons keep savings for trouble ahead, study shows
Savings equals treats for Britons
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Skipton Guernsey launches new savings rates - Wed, 07 Jan 2009 |
| Skipton BS launches new savings bonds - Mon, 05 Jan 2009 |
| People make savings resolutions - Fri, 02 Jan 2009 |
| More News |
