Workers are at risk being trapped by retirement poverty

According to a consultancy firm Aon, thousands of workers are under the threat of living in poverty after their retirement as they are not able to save up.

Aon Consulting reports that one in five Brits cannot lay money aside because they are not able to afford themselves such “a luxury”, whereas 12% have not even managed to start a pension.

Another 12% of workers express their interest in pensions and only 47% entirely rely on their employer who provides them with one; although, it is a new law giving all workers without exception the opportunity to have an access to a pension fund.

It is interesting that 5% of respondents were going to live off the state pension and 10% declared that pensions were a fake. Just 4% of the workers save up a lot into a pension fund because of the favourable tax.

Nowadays, governments and some employers are trying to get rid off their pensions’ obligations. That is why people have to care about their retirement finances all by themselves.

It was revealed that the UK was the most apathetic country in Europe towards pensions. People were more enthusiastic about their retirement future in Germany, France and the Netherlands. Moreover, twice as little workers in the UK are planning to rely on the state and live off the government pension when they retire by contrast with those in France.