Manchester named one of the worst cities for saving for retirement pensions in the UK

  • 11 months ago
Manchester has been named as one of the worst cities for workers being able to save towards retirement in the UK, according to new data.

Figures from Phoenix Insights - the longevity think tank set up by Phoenix group - show there are significant regional imbalances when it comes to pension savings, and people in Manchester have the lowest in the country.

Phoenix Insights found a quarter of people they surveyed across the UK said they don't have enough money to live on when they retire, and now that people are living much longer than their parents and grandparents, this could be a cause for concern.

We spoke to Patrick Thomson, the head of research analysis and policy at Phoenix Insights who conducted the study, to find out why people in Manchester are struggling with pension savings and what could be done to help.

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