UK - Nearly half of working-age adults do not have any pension arrangements, research by Mintel International shows.
Its study claims 17 million people are relying on the state or their spouse for retirement income.
And Mintel said that 40% of people who do have a pension are saving less than £100 a month while only 16% save more than £200 a month.
Finance analyst Paul Davies said: “To put this in perspective, for a 35-year-old man looking to retire at 65 with a final pot in the region of £100,000 – which would only produce an income of around £6600 at current annuity rates – he would have to save at least £260 per month.
“This means that the majority of pension holders will fall short of their expected income.”
The market research firm also found that there are “staggering” differences between the amounts saved by men and women.
“While one in four women save less than £50 a month, just one in six men save this low amount. At the other end of the spectrum, one in five men are in a position to save £200 or more per month, compared to one in 10 women.”
University College Union (UCU) and Universities UK have appointed Joanne Segars to chair the joint expert panel to examine the valuation of the Universities Superannuation Scheme (USS).
The Pensions Regulator (TPR) was right to use its powers to seek financial support from ITV for members of the Box Clever pension scheme, the Upper Tribunal has said.
All 6,000 UK schemes had a surplus of £361bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
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