The main challenge for public pension reform is encouraging low to middle income workers into saving for retirement, research from B&CE Benefit Solutions suggests.
The study, entitled Barriers Stopping Low To Moderate Earners Saving for Retirement, reveals auto-enrolment into personal accounts and other qualifying schemes would be vital in raising the number of UK workers financing their post-work life. It also suggests a key policy objective behind the 2012 reform would be to bring about an increased participation amongst lower to moderate earners into saving for a pension. B&CE Benefit Solutions chief executive, John Jory, says means-testing needed to be addressed as people already on benefits would not be encouraged to save for a pension if the...
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