Commenting on the 2008/2009 Pension Trends published by the Office of National Statistics (ONS) today, Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), said:
“These figures remind us why our pensions system needs such urgent reform.
“While the average pension income has increased, it’s very worrying that so many people are still facing poverty in old age.
“The Government needs to press ahead with its plans to auto-enrol people into a workplace pension. The UK has one of the worst state pensions in Europe, and it must be improved.
“Workplace pensions and better state pension provision are essential to help people save more for retirement and avoid the poverty trap that many elderly are now facing.”
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