The potential of a pension problem for millions of works across the UK could be on the horizon. According to the World Economic Forum (WEF) the UK is one of a number of counties identified as facing a ‘pension time bomb’. This is caused by a pension savings gap which could reach £25 trillion by 2050. A pension savings gap is characterised by comparing your current retirement pot with the amount of money needed to sustain 70% of pre-retirement income. This gap sees mounting pressure on the public purse and on the levels of state funding for pensions.
