M&G Urges UK to Add Pension Health Check for 15 Million Under-Savers
Updated
Updated · group.mandg.com · Jul 31
M&G Urges UK to Add Pension Health Check for 15 Million Under-Savers
2 articles · Updated · group.mandg.com · Jul 31
Summary
M&G wants the UK government to pair the upcoming Pensions Dashboard with a Pension Health Check, arguing that a single view of savings will not by itself prompt people to act.
15 million people in the UK are under-saving for retirement, M&G said, while its research found 58% of non-retirees see retirement coverage as uninspiring and disconnected from the life they want.
The proposed health check would give people regular prompts to review whether they are on track—especially after job changes, pay rises or key age milestones—and could steer some toward guidance or financial advice.
The dashboard is designed to show workplace pensions and State Pension information in one place, but M&G says broader government-industry support is needed to turn visibility into earlier, more consistent retirement planning.