Pension fall

THE average annual amount paid into a private pension has fallen to its lowest-ever level. Official figures show that £3,873 per saver was paid into private pensions in 2017, compared to £6,206 a decade earlier. The drop is a result of the fact that more people are now saving into pensions under new rules, but many are putting away smaller amounts than in the past. Some 9.6 million people have been automatically enrolled into workplace pensions, with savers putting away a record £90 billion in 2017.