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Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
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Thursday 15th November 2007
With increasing numbers of people opting for a personal pension scheme instead of an occupational scheme, "a head in the sand mentality" is pervading in people's attitudes towards saving for the future, Richard Sheppard, the head of pensions at AWD Chase de Vere has warned.
A survey by conducted by Aon Consulting this week naming the UK's state pension system as the worst in the European Union for the second year running, and Mr Sheppard said that there is a danger of more immediate concerns - like mortgage repayments - taking precedence over saving for the future.
He said: "It's a huge problem, there really is a head in the sand mentality… If you've got your head in the sand, the tide of apathy will take over.
"You'll find a new car, or your mortgage repayments will go up if your fixed rate ends - and you'll pay for all of those sorts of things rather than paying attention to your long term savings."
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