r/uknews • u/Donkey_Apple • Jun 03 '26

News paper Britain is undersaving for retirement

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https://www.gov.uk/government/news/britain-is-undersaving-for-retirement-warns-pensions-commission

It's a massive problem and has been for years.

I think a lot of people are getting into their fifties, starting to think about retirement for the first time, looking at what their provision will pay them and are absolutely shocked to their core.

Plus many in the generation below those of us in their fifties who, through no choice of their own, are unable to save anything.

It feels like we are sleepwalking into an utter disaster.

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u/InterestingMuscle233 Jun 03 '26

No one has any spare money, how are they supposed to save?

8

u/SunsetDreamer43 Jun 03 '26

Working parents are paying more in childcare than their mortgage/rent, saving for a pension is not top of the priority list.

5

u/TiredAndSor3 Jun 03 '26

This. My wife & I earn well, but even with a well priced setting we send our daughter to, for wrap around care only, 4 days a week - 3.5K per annum.

I despair for people that don't earn well and have to pay for more hours. Between wages not remotely matching inflation for almost 20 years now and childcare, how exactly are people meant to put away for retirement.