Lower paid still rely on just state pension

More than one in three full-time UK workers are still not contributing to a occupational or private pension, research shows.

A survey of almost 700 employees, by B&CE Benefit Schemes, reveals hat 37% of those in full-time work – equivalent to 6.5 million people – are not contributing to a pension plan.

And a quarter of people in full-time employment are making no provision at all for their retirement.

This rises to 43% of those in the D and E social classes, highlighting the plight the lower paid are likely to face in retirement.

Of those who are not currently contributing to a pension, one in four say they can’t afford it, with 20% having not got round to it yet.

John Jory, deputy chief executive, B&CE Benefit Schemes, said: “It is alarming to find that, even though pensions have become almost a daily talking point for many people, there are still millions who have still not taken a positive step towards starting to save for the day when they retire.”

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