Assuming the limit remained at # 1M, and assuming an annualised market return of 9 %, I would only need to make 3 years of contributions (# 120K) to breach the # 1M limit by retirement age - which would result in taxation on the difference (and hence poor financial planning in hindsight!). (money.stackexchange.com)
The Turnaround Society estimates that liquidity and cash flow problems contributed to the failure of 27.6 % of businesses, and poor financial planning contributed to 15.2 % of failed businesses. (creditdonkey.com)
This lack of knowledge might be due to poor financial planning — or it might be because most people don't understand simple finance terms and concepts. (fortune.com)