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Retirement planning in the UK is facing a perfect storm. State pension costs are soaring, fuelled by an ageing population and the triple lock guarantee that promises pensioners annual increases. The Office for Budget Responsibility warns this policy alone will add billions each year, while government debt already sits near 100% of GDP. 

At the same time, political appetite for meaningful reform is limited. A new pensions commission has been told not to touch the biggest issues – the triple lock, tax relief, or public sector pensions – leaving the system on an unsustainable path.

Other Western countries are taking tougher action. France has raised its pension age, Australia compels employers to save 11–12% of wages into private funds, and the Netherlands has overhauled its system to ensure long-term viability. The direction of travel is clear: people will work longer, save more, and rely less on the state.

For UK small business owners, the implications are stark. Many entrepreneurs are under-saving, often assuming their business is their pension. But relying solely on a business sale or future state pension is a risky strategy.

This report sets out what the crisis means for you, and the practical steps you can take: how to maximise tax-efficient pension contributions, diversify assets beyond your business, plan a succession or sale, and prepare for later state pension access.

The message is simple: don’t wait for government fixes. Take control of your retirement now, and build a plan that puts you – not the state – in charge of your financial future.

👉 Download the full report for practical guidance and examples

Noel Guilford