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28th September 2011
The company found that 35 per cent of British adults have ceased payments, with many doing so because they are out of work.
Just over a quarter (27 per cent) can simply no longer afford to make pension contributions.
"Neglecting pensions today means throwing money away tomorrow, as savers will miss out on perks, such as tax relief and employer contributions," explained Vince Smith-Hughes, head of business development at Prudential.
He stressed that abandoning a pension pot should be a last resort, otherwise people could be jeopardising living comfortably in retirement.
Perhaps more worrying is the statistic that 43 per cent of people who have stopped paying into their pension do not plan on starting again.
Prudential suggested that they are not taking into account the long-term impact on their retirement income.
Pensions contributions being put on hold
Around a third of pension scheme members have put their contributions on hold, research shows.
The company found that 35 per cent of British adults have ceased payments, with many doing so because they are out of work.
Just over a quarter (27 per cent) can simply no longer afford to make pension contributions.
"Neglecting pensions today means throwing money away tomorrow, as savers will miss out on perks, such as tax relief and employer contributions," explained Vince Smith-Hughes, head of business development at Prudential.
He stressed that abandoning a pension pot should be a last resort, otherwise people could be jeopardising living comfortably in retirement.
Perhaps more worrying is the statistic that 43 per cent of people who have stopped paying into their pension do not plan on starting again.
Prudential suggested that they are not taking into account the long-term impact on their retirement income.
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