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Education vital to pensions future, says Timms

Europe must ensure people have access to financial education and information to allow them to make confident choices in retirement, said Stephen Timms.
The Pensions Minister told a meeting in Brussels that with over 3m people in the UK not saving enough it is crucial this access is made available to help them plan for their future.
He said Europe was facing a huge challenge over the next 25 years, with the working age population falling by 7 per cent while the population aged 65 and over rises by 51 per cent.
Ministers as well as social and pension partners from across the EU shared and discussed the steps being taken to ensure people have the right information to make decisions on retirement.
Timms said: We must help people plan actively for their retirement. Financial education and information are important for setting realistic retirement expectations. We need to make sure that people are able to make choices which will help them realise these expectations.

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