Brits still not getting saving message

11 August 2005
Efforts by the government and financial services providers to convince more people to save for the future are continuing to fall on deaf ears, according to new research.

Figures from the Investment Management Association (IMA) revealed that one in three people do not save on a monthly basis.

Furthermore, one in six have no savings vehicle at all.

"There is clearly a long way to go before the savings message starts to resonate," noted Mona Patel, head of communications at the IMA.

"What is particularly worrying is that despite two thirds of the population knowing about ISAs much smaller numbers are taking advantage of them."

Ms Patel added: "Low levels of saving are one of the biggest challenges facing government and this survey highlights the continuing need to do more."

Despite the recent cut in interest rates there are still a wide range of attractive savings products available.

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