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

LPFA partners with Minerva to enhance transparency on investments

LPFA partners with Minerva to enhance transparency on investments

Organisation updates its equity dashboard to provide members with additional functionality

Holly Roach
clock 03 February 2026 • 1 min read
Pensions UK: Your chance to join the Pension Attention campaign

Pensions UK: Your chance to join the Pension Attention campaign

Mark Smith outlines the industry body’s campaign to strengthen the nation’s savings

Mark Smith
clock 03 February 2026 • 3 min read
Buzz: Should public sector schemes move to DC for new members?

Buzz: Should public sector schemes move to DC for new members?

Public sector schemes, Waspi women and retirement living standards

Professional Pensions
clock 03 February 2026 • 1 min read
Trustpilot