Workers struggling to make ends meet are being urged not to quit pension saving to preserve cash as they risk losing out on thousands of pounds in regular retirement income.
The warning from pension experts came as research found more employees are putting retirement saving on ice to help manage their finances in the cost of living crisis.
One in 20 UK adults in a study said they had stopped their monthly company pension contributions in response to cost pressures. A further 6 per cent of the 2,000 respondents to the survey by Canada Life, a pension provider, said they were considering pausing their pension saving, while a further 9 per cent might consider doing so in the future.
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