First published in Pension Funds Online, 04 August 2017
The pensions model needs drastic change to avoid a bleak and expensive future for young savers.
Last week, the International Longevity Centre - UK (ILCUK) published a report concluding that young Britons need to save 18% of their earnings each year if they want an adequate income in retirement. They described this as being a "monumental challenge". Yep – you could say that.