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 ...

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