Pension savings: "What this country needs is a drink"

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US president Franklin Roosevelt's words ending the era of prohibition have come back to haunt the pensions industry with Halifax' suggestion people give up their daily pint and packet of crisps in favour of £3 a day towards their pension pot

Apart from noting Halifax has not been to a London-based pub recently, the problem persists in equally persuasive figures from the Pru that far from culling one’s drink intake, the level of savings required to close the savings gap should cause a run on bottles of the hard stuff. £3 a day will do nothing to really close the gap for those people under most pressure, that is, those 45 and older, Pru’s figures suggest. In fact, its research finds at least half of people are blissfully ignorant of the amount of money they must save to meet their retirement income needs. The battle line...

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