FCA: 15 million people have no private pension despite AE

In its report Understanding the financial lives of UK adults, the regulator said almost half (49%) of all UK adults - including retirees - do not have a private pension, equating to 15.1 million people. Among non-retirees, the self-employed and the unemployed are twice and three times as likely as the employed to have no private pension cover, it said. The report found age to be a major factor affecting pension saving, with fewer than half (49%) of 18-34 year-olds saving into pensions, while three-quarters (77%) of those aged between 45 and 54 have a pension they have not yet accessed...