'Under-saving' for retirement
The proportion of people who are saving enough for their retirement has fallen to its lowest level in nine years, a report has warned.
Government: 'We know people are not saving enough'
Pensions Minister Steve Webb said the Government is aware that people are not saving enough for their retirement.
He added: "Only 30% of private sector workers are members of a pensions scheme and this must change.
"We have introduced automatic enrolment to help take the hassle out of saving and opened it up to those aged 22 and over to ensure the habit of saving starts early," he said.
"We are restoring clarity to the state pension so people will know exactly what they will get in retirement and how much they need to save on top to achieve the kind of lifestyle they want in the future."
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