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Retirement savings fears revealed by GE Money survey

Only one in four Britons feel that their savings will be sufficient for them to enjoy a comfortable retirement, GE Money has said.A poll from the financial firm also showed that 59 per cent of adults currently have some form of personal pension.However, among 18 to 24-year-olds, this figure went down to just 17 per cent.Moreover, half of this age group told GE Money that they had "never thought" about saving for one.Martyn Beauchamp, chief marketing officer at the firm,, commented: "Unsurprisingly young people have made the least provision for retirement, but escalating living costs, difficulties getting on the property ladder and often crippling student debts mean they may be unable to build the securities that previous generations have, and be at even greater risk of a retirement shortfall."He added: "Retirement is a key life stage that requires early financial planning. Good financial management and being able to plan and save for the future is an important part of maintaining the family finances. The message is clear - it is never too early to start planning for your retirement and how to fund it."

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