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.


Partner, Savings and Wealth

KPMG in the UK


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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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