Wednesday briefing: Why millions of Britons face a pension cliff edge

In today’s newsletter: A new report warns that many in the UK are under-saving for later life, leaving some with little choice but to work longer Good morning. I am going to whisper this gently so you don’t get spooked back under the duvet – there is a good chance that you are one of at least 15 million Britons not saving adequately for retirement. That is according to a report published this week by the Pensions Commission. The pensions “cliff edge” is no longer a distant warning; for many, it is becoming a reality. As the cost of living continues to bite, the dream of a comfortable retirement is being replaced by a pragmatic – and often scary – calculation of how long one might have to stay in the workforce. And many of us, it seems, are getting our numbers wrong. For today’s newsletter, I spoke to business and financial journalist Elizabeth Anderson, and Paul Lewis, who presents Money Box on BBC Radio 4. I asked them how we as a nation have got ourselves into this situation, and how we should properly prepare for retirement. First, the headlines. UK news | British homes will need air conditioning to survive predicted levels of global heating, the government’s climate advisers ha