The UK government has unveiled a new pension scheme to provide workers with more options for their retirement funds.
Muslim employees face a pension gap of up to £11.5 billion, according to research from pension firm Penfold.
Raising the state pension age to 66 cost 65-year-olds at the edge of retirement an average of £142 per week for 2020/21 and plunged thousands into poverty.
Businesses must take more action to ensure they provide Sharia-compliant pension schemes for their Muslim employees.
Older female workers fear that a state pension may not be enough to live off when they reach retirement age.
Young workers aged between 16 to 21 in the private sector are participating in workplace pension schemes at a much lower rate than their public sector counterparts.
Millions of workers face having only a ‘basic’ level of income at retirement because they are not saving enough.
The average value of a pension fund for a single mother in the UK has dropped by 40% since the start of the pandemic.
Yesterday (5 January) Conservative MP Richard Holden put forward a Private Member’s Bill to extend pensions auto-enrolment to 18-year-olds and those in part-time or low-paid work.