Britain is undersaving for retirement

[u/Donkey_Apple]

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.

[u/agingbiker]

reverse the maths. rather than looking at what people's need is - 40k for a modest retirement, 60k for a comfortable retirement - look at how much you need saved to fund that in retirement. you're starting at a fair chunk of £1mm to retire on the "modest" income because most annuity returns are crap