Government 'must do more to help over 50s savers'

The government has been called upon to provide greater assistance for over 50s savers amid fears that they will not have enough money during their retirement.

Research conducted by investment consultant Hymans Robertson has revealed that 65 per cent of over 55s do not believe they are saving enough for when they finish working.

The firm believes this is linked to the increased complexity of retirement savings caused by the recent Budget, which it described as particularly injurious to pension savers.

As a result, the consultancy is demanding that the government introduces new initiatives that will encourage the take-up of over 50s finance options.

Patrick Bloomfield, partner at Hymans Robertson, said: "It is crucial that the government encourages people to look at a variety of ways to save money the time has now come to make savings attractive and fashionable."

This comes after Churchouse Financial Planning earlier this month called for over 50s to ensure they have a number of income sources in place to fund their retirement plans.

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