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PPI refunds: Half of employees 'not saving enough'

It may become increasingly important to claim payment protection refunds as half of employees in the Britain are not saving enough money.

Sarah Pennells, editor of Savvywoman.co.uk, a financial website for women, claims that most people are not saving enough for retirement.

She said: "For around a third of people who retire, the state pension is their main source of income.

"Government figures show that around seven million people are not [putting] enough into their pensions although other estimates show as many as half of all employees aren't saving enough."

Ms Pennells added that a recent report by the Organisation for Economic Co-operation and Development found that Britain has one of the least generous state pension schemes.

Recent research by Prudential found that over a third of people retiring in 2011 will be doing so below the poverty line.

It revealed that one in five will retire on less than £10,000 per year.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.

 ADNFCR-2776-ID-800484562-ADNFCR



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