In the UK there are things we are a bit rubbish at.

Handball, Speaking foreign languages and Winter Sports among them.

However we there are some things that people in the UK we’re really good at.

We’re not as good as the Japanese or the Australians.

We are, on this measure, far better than the population of India.

We’re a little bit better than the American’s

and

We seem to be getting better and better at this particular “skill” each and every year.

So, what am I talking about?

In the UK we’re really good at…

….Living for a long time.

In the UK and in part due to better diets, better living standards (including housing and sanitation) and improving standards and innovation in healthcare we are living longer than ever before.

Holistically our lives are improving and so is our life expectancy.

Broadly speaking (and the data is available to dig really deep into the numbers) we are living 10 years longer than we we’re fifty years ago.

So.

We’re all living longer.

Are we saving more to accommodate for this extra 10 years?

A recent report revealed some interesting (and encouraging) answers….

Since the most recent economic downturn our attitudes and behaviours are changing. We seem as a nation to be taking ownership of the fact that as a society we need to save more.

This is pretty encouraging news.

However we all know that none of us behave totally rationally and therefore my concern is (and as the economy slowly returns to a more healthier position) our habits readjust back to the pre-recession behaviour and we start to spend more than we need and save less than we should again.

However the good news is that the new employer duties (including automatic enrolment) mean that more people than ever are being ‘nudged’ into saving than ever before.

The initial indications are encouraging (due to the fact that many of us are staying in and not opting out of the contributions we’re making) and the naysayers who believed it wouldn’t work now have a little bit of egg on their face….but only a little bit.

We’ve still got a long way to go….

The next bunch of firms who need to comply include all of the smaller companies.

There’s a risk that as we move into healthier financial times we become more complacent of the need to save for our longer term financial futures.

and (there are signs of this happening)

Many lower earning people automatic enrolment is designed to help are falling through the gaps.

However it is entirely possible (and hopefully probable) that as a nation we will “Mind the Gaps”

If these things are pretty clear to me….they should be pretty clear to the law makers whose job it is to ensure that automatic enrolment continues to be successful.

Here’s hoping that our politicians, populous and providers of products (and services) ensure we change our course to ensure the commitment and confidence to saving for our longer term futures remain.