HSBC pushes 'save early' concept at graduates

Shadow work and pensions secretary, David Willets, recently said 1.7m pensioners entitled to the Pension Credit are still not receiving it as a result of a ‘nightmarishly complicated’ means-tested system, which he believes will discourage young people from saving now. Willets also called means-testing ‘a threat to the dignity and independence of today's pensioners’. He says: “How on earth will we get the next generation to save if they see their parents who have worked hard and saved hard being punished for their prudence?” Despite such suggestions, HSBC says new working graduates...