Smashed piggy bank
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Why have some people stopped saving for their pensions?

A report by the pension provider Scottish Widows suggests the number of people who are not saving anything for their retirement is growing.

Some 22% of those aged between 30 and state pension age and who earned at least £10,000 a year were not putting anything aside, Scottish Widows said.

The pension provider, which questioned 5,200 UK adults, said this figure had grown from 20% a year ago.

Pensions expert John Ralfe told BBC Radio 5 live Wake Up To Money that the picture could be even worse.

To listen to other Radio 5 live interviews, please visit the Best Bits page.

  • 21 May 2012
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