7% of savers intend to lower pension contributions

Young people most likely to cut back on contributions to help deal with cost of living

Martin Richmond
clock • 2 min read
7% of savers intend to lower pension contributions

Around 7% of savers are planning to reduce their pension contributions to help them with the cost of living crisis, according to a new survey published today (8 July).

The survey, conducted by Barnett Waddingham, revealed that due to the increasing costs of essential supplies such as food, many consumers have the intention to reduce their pension contributions to...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Good News Corner: Hymans Robertson completes sponsored cycle

Good News Corner: Hymans Robertson completes sponsored cycle

Firm raises over £1,200 for British Heart Foundation in memory of Patrick Bloomfield

Martin Richmond
clock 26 September 2025 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

BP Pension Fund £1.6bn buy-in, PPF levy cut to zero and Standard Life set to launch private markets strategy

Professional Pensions
clock 26 September 2025 • 1 min read
LGPS funds must engage with pools on the 'basics' today, urges Hymans Robertson

LGPS funds must engage with pools on the 'basics' today, urges Hymans Robertson

Funds need to think about the changes to the LGPS brought by Pension Schemes Bill

Martin Richmond
clock 26 September 2025 • 2 min read
Trustpilot