Just 4% of self-employed workers are putting cash into pensions, with ‘large groups across the UK facing a severe cliff-edge’
Millions of people across Britain are facing a “cliff edge” when they retire due to a chronic shortfall in saving that will require a radical shake-up of the pensions system to fix, a government-backed report has warned.
The Pensions Commission said 15 million people were currently not saving adequately for their retirement, and warned this could rise to as many as 19 million without action.
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This article was originally published by The Guardian and written by Richard Partington Senior economics correspondent.
Read original article on The Guardian