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8th September 2011
Age UK responded to the figures by describing them as "extremely worrying", although appreciated that people have been less able to pay into a pension due to the recession.
"Too many people are devastated when they retire as the gap between expectations and the reality of what they will actually receive for a pension is realised," highlighted charity director at Age UK Michelle Mitchell.
She urged the government to offer more information and advice on pensions to help people realise the importance of putting money aside for the future.
Research from Legal & General recently showed that the new auto-enrolment scheme may not encourage people to save into a pension, with 33 per cent saying they will opt out.
Around a fifth said they have not yet decided what action they will take.
Drop in pension contributions ''extremely worrying''
Age UK has responded with concern to figures that show a decline in pension contributions.
Age UK responded to the figures by describing them as "extremely worrying", although appreciated that people have been less able to pay into a pension due to the recession.
"Too many people are devastated when they retire as the gap between expectations and the reality of what they will actually receive for a pension is realised," highlighted charity director at Age UK Michelle Mitchell.
She urged the government to offer more information and advice on pensions to help people realise the importance of putting money aside for the future.
Research from Legal & General recently showed that the new auto-enrolment scheme may not encourage people to save into a pension, with 33 per cent saying they will opt out.
Around a fifth said they have not yet decided what action they will take.
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