Research by J P Morgan Fleming has found that three out of four people in the UK will retire in financial comfort.
The report issued last week, "Pension Map of Britain 2003", highlights that JPMF believe that 3.4m less people will retire with 50% or more of the income that they enjoyed whilst working compared with figure 7 years ago.
Our view
Over the last seven years nothing had been done to encourage people to save more for the long term. In fact, much has been done to widen the savings gap (the difference between what people are saving and what they should be saving).
We have had pensions mis-selling scandals, company pension scheme closures, endowment mis-selling reviews and a poor investment climate. Is it any wonder that the country has turned to property?
Learn more about pensions in the Pensions Adviser.com.
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