Pensions guidance gap fuels £132bn savings shortfall

Guidance/advice gap continues to cause headaches for pension savers

clock • 2 min read
Pensions guidance gap fuels £132bn savings shortfall

The typical person aged 50-64 has pension savings that are 58% short of what they require, yet only one-in-five have spoken to a financial adviser about their pensions, The Social Market Foundation (SMF) says.

The think tank's report - published yesterday (22 February) in conjunction with Phoenix Group - found that more than two-thirds of 50-64-year-olds in the UK do not know how much they will need for ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Rachel Reeves sets date for 'Spring Forecast' next year

Rachel Reeves sets date for 'Spring Forecast' next year

Chancellor will give accompanying statement to parliament on 26 March 2025

Sorin Dojan
clock 17 December 2024 • 1 min read
Buzz: Is the chancellor right to delay the next phase of the pensions review?

Buzz: Is the chancellor right to delay the next phase of the pensions review?

Pensions review delay, PPF levy and significant accomplishments of 2024

Professional Pensions
clock 17 December 2024 • 1 min read
Phase two of pensions review delayed by Reeves

Phase two of pensions review delayed by Reeves

Government tells PP it will set out more details on phase two ‘in due course’

Holly Roach
clock 16 December 2024 • 6 min read
Trustpilot