At least 15m Britons not saving enough to retire, Pensions Commission says

Just 4% of self-employed workers are putting cash into pensions, with ‘large groups across the UK facing a severe cliff-edge’

Millions of people across Britain are facing a “cliff edge” when they retire due to a chronic shortfall in saving that will require a radical shake-up of the pensions system to fix, a government-backed report has warned.

The Pensions Commission said 15 million people were currently not saving adequately for their retirement, and warned this could rise to as many as 19 million without action.