There are growing concerns for the state of UK pensions.

It has been clear for a number of months now that the UK public sector pension schemes are in a mess and according to figures heading towards a £50 billion deficit.

With this huge deficit looming, there is a real concern regarding the UK population, especially with recent statistics showing that only 50% of the UK population are actually making adequate payments to their pensions to support them in later life.

In addition to the issues regarding payment into pension schemes, it seems as though the number of UK pensioners is growing and will continue to do so for quite some time. This will only mean that more pressure is placed on state pensions, which is already in a pretty poor state. Again, this will have more of a knock on effect for pensioners, who are already reported to have a low standard of living.

It seems that reduced investment returns are playing a large part in the pension problem but that the main culprit has to be the tax system. With the UK governments plan to reduce tax incentives to higher earners who contribute to pension schemes and having already introduced a host of tax charges to all pension fund assets, UK state pensions are not looking good.

With UK pensions the way that they are, it is going to take a long time to turn thing around.