Axa launches pension awareness campaign
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As part of Axa’s national campaign to promote savings in the UK 14 people have agreed to live on a state pension for one week.
The week-long experiment, which starts today, will see 14 participants live on £95.25 for seven days in a bid to highlight the importance of savings.
Participants, which include former England rugby player Kyran Bracken, are not allowed to work and cannot top up their fund from other sources.
An Axa spokesperson says: “This experiment will look at how UK pension provision could be leading us towards a pension stone age in comparison with other developed nations, even with the pension reforms planned.”
According to Axa research, the UK state pension is 31 per cent of the nation’s average earnings, less than half of the Italians who retire with a state pension worth 68 per cent pf average earnings and France with 51 per cent.
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