45% of working age people not saving toward a pension at all

[FernFaery]

https://www.theguardian.com/money/2026/may/19/britons-not-saving-enough-retire-pensions-commission

Another looming crisis!

That's why workplace pensions need to be compulsory with no opting out.

I just heard this report and my heart sank. Apparently the pension bill is expected to go up in multiples, as even those who are saving, are not saving enough.

Given we're locked in an extended COL, I can't imagine this will improve any time soon.

Mine too. No doubt it’ll become ‘means tested’ so, as ever, the sensible among us will be no better off than those who didn’t bother because ‘why shouldn’t they have it, do you want them to starve etc’

Some people barely earn enough to pay the bills. How are they meant to save for a pension too?

I agree but there are millions not in work and the number is rising.

It’s the self-employed who seem most vulnerable with no auto-enrollment equivalent.

Keeps the pressure on to maintain the triple lock, if so many will have nothing other than the state pension.

The report I heard said that this is not sufficient, and we should be saving at least 10% of our income monthly.

What do you mean? What do you think should happen to those in poverty when they retire?

The big problem for the self-employed (and I am one of them) is that given my income fluctuates significantly and I need to put aside money to live during the times I have lower incomings, locking money away, even with the tax benefits, feels like a very bad idea.

You've Missed the point.

Theyre saying that means testing the state pension penalises those who have bothered to save.

I have no idea, it’s up to them what they do.

So you can’t afford to be self employed? Should you be looking for a job with a workplace pension?

It's not always the case of not bothering to save. Some people can't afford to save.

The current workplace pension is insufficient. We need a bigger contribution from both employer and employee.

Does this change anything though? Is it a worsening trend?
Plenty of people have never had private pensions, they weren’t even available until relatively recently. None of my parents (early retirement age) , in laws or close family friends have private pensions, with the exception of ex teachers and police officers.

the triple lock is completely unsustainable though

According to the National Office for Statistics, the percentage of working age people who are out of work is hovering at 4.9-5% this year. The percentage of working age people who were out of work in 2016 was 4.9-5.1%. So there's not a big change at all.

I don’t even think I have 10% left after paying everything including food and petrol

I’ve tried so hard to keep paying into my NHS pension but it’s unaffordable. I already have 15% deducted for student loans and my rent is 51% of my take home pay so the 9.8% pension deduction is just getting me further into debt so I’m going to have to opt out of it. If housing was reasonably affordable, I’d be able to save for retirement on top of paying into my pension. Imagine that!

We’re not all feckless losers wanting to scrounge off the state in our old age. Some of us worked out backsides off to improve our financial position only for the cost of living/housing crisis to happen and make us wonder why we bothered!

I've suspended my pension payments indefinitely because I can't afford to live so I need the extra £80 a month.

Ok.

But then those who do save just being means-tested out of the state pension… seems a bit unfair.

Does that include those in the group with no expectation to find work?

Well there’s just no incentive to work. How can there be, if people are vociferously arguing that those who don’t work should get exactly the same?

Pensions is a ticking time bomb . People are either not saving or not saving enough so will expect to rely on pension credits . Except there won’t be a
enough people of working age to pay for it .

there are no plans to mean test state pension. There is no point trying to base a debate on something that is just an idea

Why are you ignoring the fact that many people who do work can't afford to save for a pension?