Employee reward and benefits news
Pensions 'must be considered alongside other saving schemes'
All options for retirement must be considered if people are to have a comfortable later life, according to an expert.
Charlie Thomas, the executive editor of Pensions Management magazine, made her comments in response to a Newsnight poll which revealed that three quarters of people believe retirement in the modern sense will not be possible in the future.
She explained that younger employees may be tempted to put off saving into a pension as they have student loans, may be saving for their first house or buying a car.
Ms Thomas noted that many people are starting to look at other savings ideas and not pension pots, which allow more flexibility in terms of accessing money earlier.
"Isas are very popular, but some employers also offer share save schemes, which lock in your investment for one, three or five years, but allow you to sell those shares once they reach maturity," she concluded.
The Newsnight report also discovered that (54 per cent) thought it was unfair that younger generations would be worse off than those now approaching retirement age.
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Posted by Elizabeth Mewes
