The Savings Gap

The Savings Gap

As a nation, we are currently under-saved by c.£9 trillion and that’s just to deliver pensions at a level most people expect for a tolerable lifestyle. With the government shifting financial responsibilities onto the individual it is more important than ever to for us to work together to close the savings gap.




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The Savings Gap

Changes in the pensions industry mean that the potential impact of the savings gap on the UK is growing.

Key highlights:

  • There are 6.2 million workers in the UK failing to save anything towards their retirement.
  • Those in the mass market have limited access to financial advice.
  • With constant changes in regulation, effective financial education becomes difficult.
  • 59% of the workforce are now active members of pension schemes due to auto-enrolment.
  • Savings and wealth firms need to become more customer focused. 
  • Technology can help to improve the customer experience and encourage saving.

Download our full report on How to close the savings gap.

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