Pensions crisis deepens as millions not saving enough for retirement

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Millions of people across Britain are failing to save enough for retirement, a new study has revealed.The Pensions Commission's interim report, published on Tuesday, revealed major shortfalls in retirement savings under the current system, with lower and middle-income earners facing the greatest risk of financial insecurity later in life.Jeanie Drake, one of the three commissioners leading the review, said the scale of the problem appeared greater than many had expected.She told the Financial Times: "The problem is bigger, I think, than people had anticipated.

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TRENDING Stories Videos Your Say "The case for trying to find a [solution] is quite compelling."The commission was established by Labour last year to assess whether Britain's pension arrangements remain adequate, fair and financially sustainable.It highlighted particularly severe challenges among self-employed workers, with only four per cent of those whose income comes entirely from self-employment currently holding any form of...

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