Adequate levels of savings hit peak

Saving Up For Retirement
Saving Up For Retirement

%VIRTUAL-SkimlinksPromo%The proportion of people who are saving adequately for retirement has recovered to its best levels since 2009 as the benefits of Government pension reforms and wider economic improvements start to be felt, a report has found.

Some 53% of people were found to be putting enough by for their old age, meaning they are saving at least 12% of their income or expecting their main retirement income to come from a "gold plated" defined benefits pension such as a final salary scheme, the annual Scottish Widows Retirement report found.