Saving for retirement is something that is high on most people’s to do list, but do you actually do it? New recommendations from the policy exchange seem to suggest that we don’t and it’s believed that if we are going to avoid poverty in our retirement then most people should be saving at least 6 times more than they do! They also said that around 11 million people in the UK are at risk of pension poverty. One of the recommendations they have made is that people should be forced to save for their retirement by removing the opt-out option that currently exists to auto enrolment. They also said that as people’s incomes rise, so should their compulsory pension contributions. But is compulsory pension saving right for everyone and would you be happy if you were being forced to save for retirement?
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