Many face retirement savings gap

UK workers are the worst-prepared for their retirement in a global study and typically face 12 years of having to make "significant cuts" to their living standards after their savings run out.

People in this country are heading for spending most of their post-work life simply scraping by, as their savings will last around seven years but their average retirement is expected to stretch out for 19 years, according to the HSBC study.
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