Third of private pension holders give up totally on saving

Damian Wilson

John Stillwell/PA Wire

The Government can cajole and lecture us all it likes about saving for later life, but that won't change the fact that more than a third of people with private pensions have stopped putting money into them.

And according to Prudential, there's a simple reason why: they just can't afford it.

The reason they can't afford it is because either they are out of work or they simply don't have the cash left after paying off the mortgage, dealing with their energy bills and doing the weekly shop.