Evaluation Scotland Wales

12 million people in the UK are not saving enough for their retirement

Retirement planning

According to the Department for Work and Pensions, 12 million of us are not saving enough for retirement. This is an area that has undergone significant change, with the introduction of workplace pensions automatic enrolment and new freedoms around how people can use their pension savings. While automatic enrolment will see more people saving into pensions, some people will need to save more to have an adequate income in retirement. The ability to access pension money from age 55, and have the freedom to make their own income choices, may also have an impact on later life.

Latest News

  • Tuesday 26 March 2019

    Listening events: share your views with The Money and Pensions Service

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Financial capability in action

Webinar: financial wellbeing in the workplace

Hays Recruitment share how they approached this issue with management and employees, and demonstrate that you don’t need big budgets or massive resources to make effective change.

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Calls to Action: setting a new vision for financial capability

Five new Calls to Action have been announced as part of The Financial Capability Strategy’s ambitious vision of how, together, we could move effectively towards a more financially capable nation.

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Consumer engagement: barriers and biases

Policy makers are increasingly viewing behavioural techniques as a means to helping people make better decisions and achieve better outcomes. A number of behavioural techniques are now being used in the pensions environment to promote saving.

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Retirement planning strategy overview

The Strategy reflects the unique challenges people face when saving into a pension, making decisions about retirement income, and managing retirement savings throughout life, working with employers and leading the co-ordination of collaborative efforts to provide better access to pension information and improving the consumer retirement journey.

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Life stages across the UK