Scottish Widows Announce Fewer Are Saving For Retirement

Figures from Scottish Widows, announced today suggest that the percentage of people making adequate savings for a pension fell to 46% last year (falling from 55%)

In the same report they state that the number of people failing to even have a pension in place rose from 17 % to 28%.
*Based on a survey of 5,806 people.

In talking to my clients I have found that many people are seeking alternative investments to the pension scheme. The main reasons appear to be the fears following previous stockmarket crashes, not understanding how pensions work (most people seem to have the perception that pensions are very complicated), and concerns about fraud due to the fraud cases that reach the headlines.

Of course, it's good to avoid having all your eggs in one basket, but why not make at least one of the "eggs" a simple pension scheme with a reputable provider?