Debt advice: Workplace pensions could avoid retirement money worries

29/01/2010

Workplace pensions could allow for a better quality of life by reducing money worries, a pensions association has said.

Mark Brooks, spokesman for the National Association of Pension Funds said: "We believe that everyone should have a good quality, affordable workplace pension. That will certainly help to reduce the number of people who are solely reliant upon state benefits [when they retire]."

Mr Brooks added that workplace pensions need to be more accessible to everyone so that more people can benefit.

Research by Prudential suggests that nearly a fifth of people in the UK are planning to retire in 2010 without a workplace pension.

These people will be relying on personal savings and state pensions.

Despite this, a third did not know the amount the state would provide, or overestimated the weekly amount by £25 or more.

Tags; Retirement Money Problems,

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