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Workers fail to put cash in pension pot

More than one in three workers are not contributing to a pension, research published by construction industry pension specialist B&CE Benefit Schemes showed.
Despite raised awareness of a possible looming pensions crisis, 37 per cent of full time workers do not contribute to a pension plan with 26 per cent making no provision for their retirement at all.

Construction has at least 700,000 site operatives and just 190,000 are signed up at any one time to the most basic stakeholder pension schemes, usually funded by small employer contributions.

One in four workers said they cannot afford to save for their retirement while 49 per cent were paying what they can afford.

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