Three quarters of workers not on track for 'moderate' pension income, report suggests
A report by Pensions UK indicates that over three-quarters of workers are not saving enough to maintain a 'moderate' lifestyle in retirement. Rising costs of living have increased the financial requirements for a comfortable retirement, leaving many at risk of a sharp drop in income.
Why it matters
The findings highlight a growing economic crisis regarding retirement security and the adequacy of current savings rates.
Share Save Add as preferred on Google Kevin Peachey Cost of living correspondent Getty Images Too many people face a "cliff-edge drop in income" when they retire, with more than three quarters not on course to save enough for a "moderate" lifestyle, a pensions trade body has warned.
The article relies on data from a trade body and academic research to report on economic trends without partisan framing.
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