Millions face pensions hardship
Wednesday 13 October 2004
More than 12 million working people are not saving enough for their retirement, a major report into pensions has found.
By The LandlordThe Pensions Commission said a mix of higher taxes, more saving and a higher average retirement age was needed to solve the UK's pensions crisis.
If taxes, savings or retirement ages were not increased, pensioners would suffer a 30% decline in relative incomes, the report said.
The Commission is due to set out specific recommendations next year.
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