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Pension savers are struggling with so-called ‘retirement envy’ as they see the living standards and lifestyles of people who are already retired, says new research.
A TUC-sponsored report has found that women, carers, ethnic minorities and the self employed lag well behind behind the average man when it comes to pension saving.
George Osborne has a “once in a lifetime opportunity” to create a tax environment to support decent living standards in retirement.
Any moves to further reduce tax relief on future pension contributions would be a “second tax grab on pension savers”.
A Sipp and ISA firm, which went into administration this week, has been bought by Embark Group, the parent company of Hornbuckle, it was announced this morning.