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ALMOST TWO THIRDS OF WORKERS BELIEVE MEANS-TESTED BENEFITS DETER PENSION SAVING
A recent survey conducted by employee benefits provider B&CE Benefit Schemes, concludes that 62% of UK workers believe that means tested benefits deter some people from saving in a pension.
Seven out of ten workers aged over fifty-five feel that means-tested benefits could deter people from saving. This statistic is particularly concerning as this is traditionally the group you would most expect to be saving for their retirement.
A large majority of workers also felt that topping up the basic pension with means tested benefits is unfair on those who have paid money into a pension scheme. Twice as many felt that it was unfair as think it is fair (59 percent and 29 percent respectively).
Read more > June 16, 2008, 7:51 pm