Cyprus Mail
Business

Seven out of ten people must save more or delay retirement, report says

By Nicholas Kakouros

Seven out of ten workers in Cyprus will not have accumulated enough savings by the time they retire and will either have to save more or delay their retirement, a pension consulting company said.

As a result, 53 per cent of the population will not be in position to retire before the age of 70 while 7 per cent are not going to be ready for pension before they turn 75, AON Hewitt said, in a report on the adequacy of pension benefits in Cypriot companies, headlined the “The Real Deal – Cyprus 2015”.

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