Retirement in Britain: a ticking timebomb

The FCA's latest survey on Britons' financial lives makes a sobering and uncomfortable read, as it indicates how much work needs to be done to get people financially ready for retirement, says Morningstar. While more than half of participants in the survey had a pension pot, 35% of had defined contribution savings of less than £10,000. Such figures imply there is a significant shortfall in people's savings. Even more worrying is that more than half of those surveyed had stopped saving and investing altogether because of the cost-of-living crisis.