YOUNGER workers in the North- East need to pay more into their auto-enrolment pensions to avoid financial hardship in old age, a national wealth management company has warned.
Harry O’Connor, consultant at Pearson Jones’ Bishop Auckland office, said they urgently need educating on how much they should be saving for their pension needs.
The Pensions Regulator (TPR) has said nearly three million people have signed up to auto-enrolment pensions but there is growing concern among professional advisers that employee contributions are too small.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here