Greater flexibility may be needed in pension saving, the head of investment propositions at Scottish Widows has said in response to a new study that shows that the next generation may have to start saving at 25 years old to retire by their 70s. Iain McGowan said:
Offering more flexibility that combines the accessibility of an Isa with the tax benefits of a pension could help future generations face up to the twin challenge of saving for short-term financial hurdles like a deposit for a mortgage or a wedding while at the same time setting aside enough for retirement.
More top news
Cloudy and damp across much of England and Wales, although the rain should turn lighter and more patchy by the afternoon.
A British journalist based in Egypt has been expelled from the country as authorities tighten control over the media ahead.
Airline fees for services such as name changes and airport check-in could be targeted under a new Government clampdown.