COVER STORY
Retirement
“ The cost-of-living crisis is going to squeeze the budgets of millions of households . It ’ s inevitable that as that happens , some people will feel saving for the future is not a priority ” Tom Selby Head of retirement policy at AJ Bell
Slipping through the net The same problems apply for those who take time out to care for children or elderly relatives , those who earn less than the £ 10,000 threshold for auto-enrolment , or the selfemployed . Taking time away from pension contributions may seem prudent in the short term , but can be incredibly expensive in the long run . Tom Selby , head of retirement policy at AJ Bell , says : “ The cost-of-living crisis is going to squeeze the budgets of millions of households . It ’ s inevitable that as that happens , some people will feel saving for the future is not a priority , or simply beyond their means .
“ Those who tend to have poor pension provision already – such as low earners and the self-employed – are arguably the most likely to shelve retirement saving in the face of rising inflation . As such , there is the worrying prospect that the
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