Britain’s not prepared for retirement

Retirement planning is lost on thousands of Britons. A fifth of current workers will rely on state pension. Half of British workers feel they will be worse off in retirement than their parents. However, many people are failing to counteract the growing problem, according to a new HSBC report. The lender's study called 'The Future of Retirement: The power of planning' found that Britons are aware that they have longer life expectancies than previous generations and that the state pension will not be able to cover their needs. Despite this they are not making the right plans to sufficiently fund their retirement.