People nearing state retirement age have the lowest savings of all over-55s, according to Aviva.
In its first Real Retirement report, Aviva studied the finances of the UK's over-55s, with its research suggesting growing debt and low savings point to a gloomy picture for retiring people.
The current generation of retiring and long-term retired has a higher incidence of homeownership, lower debts and more savings than the pre-retirees, according to Aviva's first Retail Retirement Report.
The report reviews the finances of the three ages of retirement broken down into pre-retirees (55-64), retiring (65-74) and the long term retired (over-75).
Pre-retirees have the lowest savings, an average of £8,593, lowest incidence of home ownership and largest average mortgages, with around £16,694 outstanding.
Two fifths of pre-retirees save nothing per month and 20% still owe more than £75,000 on their mortgage.
There is also a growing disparity between the richest and poorest in all age groups.
Again this gap is at its most egregious in the pre-retirees so while the average savings for this group is £57,002; the median - which represents a more typical saver - is a mere £8,593.
The report was based on a survey of 1,200 individuals throughout the UK.
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From 1 March