A report based on retirement projections warns that millions of people in the UK could be at risk of “pension poverty” when they retire. Scottish Widows estimates that around 12.2 million UK adults are vulnerable in later life, drawing on forecasts for people aged roughly 22 to 65.
The projections consider how individuals save for retirement, their financial behaviours, and the income sources they are likely to have in retirement. The report also highlights that retirement outcomes can shift if plans are disrupted. It says that factors people can control—such as pension contributions—can be “easily thrown off course” by external pressures.
One set of external factors mentioned includes rising living costs, with the implication that higher bills can affect a person’s ability to continue saving or maintain contributions over time. The analysis therefore points to both individual savings patterns and broader economic pressures as determinants of retirement income adequacy.
