UK faces £66bn savings gap

The UK is facing a savings shortfall of £66bn, according to an IFA Promotion survey. This figure is almost £40bn more than the £27bn savings gap often quoted in discussions on the need for adequate pension provision. The gap affects the financial security of almost two-thirds of the population, some 29 million adults, if no action is taken to close it, said David Elms, chief executive of IFA Promotion. He added: 'This serves to highlight the extent to which people are under-providing for themselves, not only in terms of retirement income but across all forms of long-term saving.' F...