UK: IN MY OPINION - Institute of Management companion Sir Peter Davis, group chief executive of Prudential, ...

IN MY OPINION - Institute of Management companion Sir Peter Davis, group chief executive of Prudential, says that there's no time like today to start saving for tomorrow.

About half of the 22 million employees in the UK can be confident that the pension schemes provided by their employer will help them to enjoy retirement. However, approximately six million adults - some on short-term contracts, others part-time or self-employed - do not yet enjoy access to such support nor pay into any alternative arrangements to fund their own retirement. They will be largely dependent on state benefits. It is these people who are the targeted beneficiaries of the government's proposed new Stakeholder Pension schemes.