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.

Five big stories

1. UK news | British homes will need air conditioning to survive predicted levels of global heating, the government’s climate advisers have warned in a report, as measures such as drawing curtains, opening windows and growing trees for shade are not likely to be enough.

2. UK politics | Andy Burnham will face Reform UK’s Robert Kenyon in next month’s crucial Makerfield byelection in a clash that could change the course of British politics for years to come.

3. World news | Xi Jinping welcomed Russian president Vladimir Putin with pomp and pageantry as the pair kicked off talks in the Great Hall of the People, days after the Chinese leader hosted Donald Trump in the same location.

4. US news | The US vice-president, JD Vance, has urged anti-immigration activists in the UK to “keep on going” after tens of thousands gathered for a rally in London.

5. Cost of living | UK supermarkets have been asked by the government to consider freezing the prices of some essential foodstuffs to protect the public from inflation fuelled by the Middle East conflict.

Read more @theguardian