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Scottish Widows call for workplace saving

Scottish Widows has called for greater financial education in the workplace, in a bid to help close the savings gap.

Significant workplace pension changes are already due in 2012, with the introduction of NEST and auto-enrolment, and Scottish Widows has called for a greater emphasis on workplace savings.

John Taylor, Market Director for Pensions, has stated that 41% of those looking for a new job consider the pension to be a fundamental factor in deciding where to work.

Taylor added that more engagement was needed to help highlight to those who were not saving sufficiently what they presently have and what they need to save in the future.

Earlier this month the annual Scottish Widows UK Pensions Report 2011 revealed that almost half (49%) of people were not saving sufficiently for retirement, with 20% not saving anything at all.

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