One in five working adults (20%) in the UK is more likely to spend their spare cash at the end of the month on a shopping spree or a holiday than pay into a pension scheme, according to research from Aon Consulting.
When provided with a range of cash spending options, the research, which surveyed 1,680 adults in full time or part time employment, highlighted that UK employees regard paying into pensions (4%) only slightly more important than buying the latest gadgets (2%) such as an iPod or PSP (Play Station Portable) or buying lottery tickets (1%).
Paying off debts (42%) and paying into a savings account (29%) were the two most popular choices for UK employees, with putting money towards a holiday or shopping spree (20%) close behind.