A government-backed Pension Commission report says around 15 million people in the UK are not saving adequately for retirement, warning the figure could rise to as many as 19 million without changes to the pensions system. The report highlights a “cliff edge” risk for people when they stop working, driven by a chronic shortfall in retirement savings.
The sources also point to low pension saving among the self-employed. One outlet reports that only about 4% of self-employed workers are paying into pensions, describing this as part of a broader problem affecting large groups across the UK. Another report says more than four in 10 working-age adults are not saving into a pension at all, despite nearly half of working-age adults being in work.
Overall, the coverage converges on the same diagnosis: a substantial share of the UK workforce and working-age population is not putting enough aside for later life. The report calls for a “radical shake-up” of pensions to address the gap and prevent future increases in people facing inadequate income in retirement.
