The Association of British Insurers have found that 8.3 million people are still not saving for their retirement. Their annual research has shown that 31% of Britains working population has failed to put enough money into a pension.
One main reason is thought to be the level of debt that people have built up, as the average non-mortgage debt is now nearly £9,000 per household, and in many cases it is believed to be the sole reason why Britons are not saving.
Our view
As ever, we all spend on Christmas and not a lot on our futures.