Datamonitor has issued research that shows that the average worker in the UK has a projected pension fund shortfall in the order of £50,000. In simple terms, it means that the average person in the UK will suffer financially when they retire.
The £50,000 is a projected income loss because you do not have a large enough pension of around £4,000 pa.
Our view
We all know that we are not saving enough and it is really helpful to put real figures out there.
Most people do know that they do not save enough but many are unconvinced by seemingly calamity after calamity within the financial services sector. Perhaps this is why property still continues to be a draw despite warnings of falls. But will the property bubble burst?