Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income.
The World Economic Forum (WEF) has issued a warning that calls on the Government to impose faster pension-age rises as it earmarks the UK as one of several countries facing a ‘pension time bomb’, with the UK pension savings gap reaching £25 trillion by 2050 if action is not taken soon.
Have you got a retirement date in mind?
As people’s retirements get longer, the responsibility for funding them will shift even further towards individuals. If you have not retired but have a specific retirement date in mind, it is essential to obtain professional financial advice to put a savings plan in place to make sure you meet that goal with sufficient savings in your pension pot.
Download our factsheet to find out what you need to plan to prevent the financial equivalent of climate change.