70% of low-paid can't afford pension contributions

LGIM study highlights who is slipping through the AE net due to the cost of living crisis

clock • 3 min read
70% of low-paid can't afford pension contributions

Lower paid workers could face harsher retirements due to the cost of living crisis stopping them from being able to afford pension contributions, according to Legal & General Investment Management (LGIM) research.

The pressures of inflation of today's household finances could have a negative impact as 69% of low earners not contributing to a workplace pension say they cannot afford to, even though almost 60%...

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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Disorderly net-zero transition will have 'severe' impact on scheme returns

Disorderly net-zero transition will have 'severe' impact on scheme returns

Ortec Finance says physical risks could ‘slash returns’ in UK pension fund portfolios

Holly Roach
clock 12 December 2024 • 1 min read
What will next year entail for pensions?

What will next year entail for pensions?

PP survey finds industry expects regulation, run-on, dashboards, GMP and governance challenges

Jasmine Urquhart
clock 12 December 2024 • 3 min read
Schemes keen for BPA insurers to offer improved communications, Aon finds

Schemes keen for BPA insurers to offer improved communications, Aon finds

Firm says trend for bulk annuity insurers to offer improved comms will continue into 2025

Holly Roach
clock 11 December 2024 • 2 min read
Trustpilot