Half of people believe AE will 'provide better retirement'

Three out of four (74%) people told a study by the master trust provider that the UK has no savings culture. Almost one in three (32%) of respondents have less than £500 in savings, while 15% have no savings at all. The fallout of the economic crisis significantly affected saving, with more than one in four (28%) people not resuming saving after they stopped during the recession. A quarter blamed frozen wages on low saving levels and 10% suggesting low interest rates dissuaded people from putting money aside. The pressure of everyday outgoings was said to be the biggest challenge t...