A government-backed report from the Pensions Commission warns that at least 15 million Britons are not saving enough for retirement, risking a 'cliff edge' when they stop working. The report, released on May 19, 2026, calls for a radical overhaul of the pension system to address the chronic shortfall.
The commission, chaired by Baroness Louise Casey, found that many workers are not contributing enough to their workplace pensions, despite auto-enrollment. The report recommends increasing minimum contributions and expanding coverage to include the self-employed.
According to the commission, the current system leaves millions at risk of poverty in old age. The government has not yet responded to the report's proposals, but officials say they will consider the findings carefully.
