Retirement news
Pension contributions are not increasing
7 March, 2007
Contributions to pension schemes are not increasing enough for people to get the same returns that they did ten years ago, according to one charity
The Pensions Policy Institute (PPI) has said that although there has, over the last few years, been a consistent level of investment in pension schemes, the income returns are not as beneficial as they were in the past.
This week, a report has been published by global financial consultancy Watson Wyatt, which claims that pensions have decreased by more than 75 per cent in ten years.
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Spokesman for the PPI Chris Curry said of the research: "The Watson-Wyatt work shows that people do need to perhaps contribute more in order to get the same kind of incomes that people in the past have received…there's no real evidence that contributions are increasing enough, or even at all, to make that possible."
He added that it is up to each individual to take a look at their own circumstances and work out what is best for them in terms of pension contributions.
The PPI is an educational charity which provides non-political, independent comment and analysis on pension policy in the UK.
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