A quarter of UK employees are not saving for their retirement

A quarter of UK workers are not saving anything for their retirement, according to research.

Almost one-third (30%) of the 780 workers surveyed by employe benefits provider B&CE Benefit Schemes said they could not afford to save for their retirement and one in five (21%) said they simply hadn’t got round to it yet.

But, despite the general apathy, most respondents (85%) did not believe the government would provide an adequate retirement income by the time they started drawing their pensions.

John Jory, deputy chief executive of B&CE Benefit Schemes, said: “It is alarming to find that, even though a high percentage of the working population does not believe that they will be able to rely on the state when they retire, there are still millions who have failed to take a positive step towards starting to save for retirement.

“B&CE continues to emphasise the importance of taking appropriate action sooner rather than later, especially as many employers, such as those in the construction industry, are already providing access to good pension schemes.”

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