UK - Almost half the UK's adults have no company or private pension and will rely on state benefits in retirement, a study by Accenture HR Services shows.
It found that a third of people within 10 years of retirement had made no extra pension provision.
Accenture European chief operating office Andrew Middleton said employers needed to do more to educate their staff. “If this trend continues, Great Britain will be a nation of poverty pensioners, or worse still, people will be forced to continue to work into their 70s.”
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.