Many people are setting themselves up for a stark retirement by saving too little, too late, writes Laith Khalaf, in light of the FCA's latest Financial Lives survey
Latest findings from the Financial Conduct Authority (FCA) have sounded the alarm on how unprepared many UK adults are for retirement. The regulator's latest Financial Lives survey reveals a troubling picture: 19% of working-age adults have no private pension at all, while 41% are currently not contributing to one. For many, the future may hold a financial shortfall that the state pension alone will struggle to fill. A third (33%) of defined contribution (DC) pension holders have less than £10,000 saved. That may be less concerning for someone in their twenties, but it's a red flag fo...
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