Half of Brits have no pension - study

The study, commissioned by the investment trust manager Baillie Gifford, found 45% of more than 2,000 adult respondents have no arrangements in place despite growing fears surrounding a lack of funds in retirement. It also suggests 9% of people are reducing or freezing their monthly pension payments in an effort to free up money for mortgages, bills and daily expenses. Chris Fletcher, head of retail investments at Baillie Gifford, describes the study's findings as "concerning". “The rise in life expectancy means people should start saving younger than ever before," he says. "The cost of...