£66bn savings gap threatens 29m people

The UK faces a savings gap of an estimated £66bn which will affect the future financial security of almost two-thirds of the population (29 million adults) according to a new report released by IFA Promotion. This new figure dwarfs the original estimate of ABI's pension-only 'savings gap' research published in 2001 which placed the UK savings shortfall at £27bn. With the £27bn pensions gap becoming a £66bn long-term savings gulf, this report highlights the extent to which people are under-providing for themselves across all forms of long-term savings. IFA Promotion's research ...