1 July 2008
Many Brits are not putting enough cash aside to last them in their retirement years, a new survey has suggested. According to the report from Scottish Widows, one in three consumers said that they cannot save money, thanks in part to the recent credit crunch, reports the BBC. In total, only 51% of those studied are placing any money to one side in the bid to have funds to fall back on once they retire, the firm stated, news that may interest those with current accounts. Scottish Widows official Ian Naismith noted that people could do more to ensure that they do not face a problem in their later years. "While pensions savings are slowly starting to rise, there is still the real worry that in the current economic environment the nation is not doing enough to prepare for retirement," he commented. In comparison with last year there was a small increase (2%) of the numbers who are able make pension provisions. Business fraud is on the up this year as people struggle with rising debt levels, BDO Stoy Howard has said.
© 2008 Adfero Ltd
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