A survey carried out by the Financial Conduct Authority (FCA) has found that one in ten individuals have no cash savings at all.
An additional 21% of people have less than £1,000 to make use of in an emergency, the FCA revealed.
One in four people in the UK have low financial resilience which leads them to miss payments, struggle to handle commitments or miss out on having savings to fall back on.
The survey found that, in regard to retirement, 33% of adults with a Defined Contribution pension have less than £10,000 saved.
Sarah Pritchard, Executive Director of Consumers and Competition at the FCA, said: ‘Our data shows that finances are stretched for many - with some unable to save for a rainy day. And we know that some do not have the confidence to invest. But there are improvements – more people with current accounts and less digital exclusion. Our strategy will build on this to help people better navigate their financial lives.’
21/05/2025
View all >
13/10/2025
Budget must boost UK business
The Autumn Budget must sharpen the UK’s competitive edge to stay ahead of the pack in an increasingly dog-eat-dog world, says the British Chambers of Commerce (BCC).
READ MORE
Countdown to Vaping Products Duty begins
There is now less than a year until the UK Government introduces Vaping Products Duty (VPD) and Vaping Duty Stamps (VDS) on 1 October 2026.
Many young people missing savings
Over 750,000 18-to-23-year-olds have yet to claim their matured Child Trust Funds, according to HMRC.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.