Gordon Lishman, Director General of Age Concern, said:

“It is very worrying that half a million fewer people are saving into company pension schemes than two years ago. Despite 1.8 million pensioners currently living in poverty, millions of people are still not making adequate savings towards their retirement.

“People need to be encouraged to save more and plan ahead for their retirement. A personal accounts system should help many thousands of people without access to a decent occupational pension to save. This should particularly help many women, who are more likely than men to be in low-paid or part-time work so do not have access to, or cannot afford, an occupational pension.”

ENDS

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