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Young people will need to save more than current pensioners to combat slow wage growth
Thursday 27 Jul 2017 Author: Lisa-Marie Janes

Think-tank the International Longevity Centre-UK says young people need to put away 18% of their earnings for an ‘adequate retirement income’, equivalent to that enjoyed by today’s pensioners.

This is a higher proportion of earnings compared to other countries in the Organisation for Economic Co-operation and Development (OECD). Vince Smith-Hughes, retirement income expert, Prudential, says, ‘action is needed now to further embed pension saving in to our workplace culture’.

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