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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Industry supports enhanced regulatory requirements for UK life insurers

Industry supports enhanced regulatory requirements for UK life insurers

Comes after the Prudential Regulation Authority unveiled new proposals for insurers

Holly Roach
clock 15 May 2026 • 1 min read
Women in Pensions 2026: Entries close in one week!

Women in Pensions 2026: Entries close in one week!

Individuals and organisations nominated have until 22 May to complete entries

Professional Pensions
clock 15 May 2026 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Schemes react to Virgin Media remedy, King’s Speech, Scottish Widows report

Professional Pensions
clock 15 May 2026 • 1 min read
Trustpilot