Trustnet Magazine 87 September 2022 | Page 60

IN THE BACK

There is a little pragmatism that needs to be brought to bear , and the British public will be weighing up whether to reduce or even pause their pension contributions in order to pay their bills and keep warm

pensions industry have finally got their act together to promote the wonders of sensible retirement planning and make people understand – as early as possible – that if they fail to save for retirement , they will be spending their final years in poverty . Mandatory minimum autoenrolment contributions are unlikely to amount to a retirement pot that ’ s much better either , so the campaign to get people engaged with what is likely to be their biggest savings pot is a great idea . But the decision to launch the campaign against the current backdrop has raised some eyebrows . Most people understand that paying into a pension is a good idea ,
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