Call for ‘living pensions’


Four in five workers are not saving enough money to fund a reasonable retirement, campaign group the Living Wage Foundation has said. It estimates 16 million people are affected (The numbers exclude defined benefit pension savings).


Following publication of its report Living pensions: An assessment of whether workers’ pension saving meets a ‘living pension’ benchmark, the Living Wage Foundation is calling for the development of a new “living pension standard”, which would provide stability and security for workers in the future. 


Katherine Chapman, director of the foundation, said: “This report shows that 16 million people are not saving at levels which are likely to prevent poverty beyond their working lives. Today’s cost of living crisis is tomorrow’s pensions crisis.”


https://www.livingwage.org.uk/news/four-five-workers-not-saving-levels-which-are-likely-deliver-acceptable-standard-living