Retirement News : Seniors : People 'must save more for their retirement'

People 'must save more for their retirement'

Date Added: 25-11-2005

The U.K. government is telling individuals and their families to save for their retirement.  Read the excerpt below.

Independent - London,England,UK

By Andrew Grice, Political Editor
24 November 2005

People will have to take responsibility for providing for their own retirement rather than relying on the state, the Government will say today.

John Hutton, in his first major speech since becoming Secretary of State for Work and Pensions, will announce the five tests by which the Government will judge the pensions blueprint to be published next Wednesday by a commission chaired by Lord Turner of Ecchinswell, the former Confederation Britisg Industry director general.

Mr Hutton will say: "The primary responsibility for security in old age has to rest with the individual and their families.

"An active welfare state must provide a floor below which no one should be allowed to fall, but its primary role must be to enable people to provide for themselves, giving everyone the opportunity to build a decent retirement income that meets their needs and expectations."

Read the entire article:

http://news.independent.co.uk/uk/politics/article328969.ece