Research by Mori has shown that the number of people with a company pension or a private pension has increased by 1million since Labour came into power in 1997. The figures include that membership of company pensions has gone down by a staggering 4% in that time.
Our view
The Government debacle on pensions is a contributor, however, we believe these figures have possibly more to do with poor investment markets, the fact that people want better access to their assets, they are worried about all the poor headlines of pension schemes becoming insolvent and the fact that people are penalised in retirement with their benefits for having saved in a pension rather than those who have not.
We have argued for three years now that education is the key - people have to be made aware of what they need and how they will manage in later life. This is why we launched . If these figures continue the only option open to Government is Compulsory Pensions!