Scary Statistic – Pension Cuts – 28/09/11

According to figures from the Prudential a third of us can no longer afford to contribute to our pension schemes, with potentially disastrous consequences for our old age. On average cutting back on a £200 a month pension contribution over a year will result in a loss of £7000 in our final pension (in bald terms – we save £1,200 now and lose £5,800 later).