Pension savers face 'mid-life crisis' - Aegon research

Cost of living restricts contributions for those aged 45 to 54

clock • 2 min read

Nine out of 10 people face barriers to saving for retirement in the years they tend to contribute most to their pension pots, research from Aegon has suggested.

According to the group, 93% of those surveyed aged 45 to 54 said they do not save - or save as much as they would like - for retirement, with the principal reasons being the cost of living (63%) and insufficient income (39%). Other leading barriers to saving cited were paying off mortgages or loans (36%) and family costs (32%). The research also indicated a generational shift towards mortgage and family commitments lasting much later into working life, with just 12% of those aged 55 to 60 saying there was no barrier to them saving. In contrast, more than a quarter (27%) said mortgage ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Defensive income before retirement: A four layered framework

Defensive income before retirement: A four layered framework

Entering decumulation can be an unsettling time for clients

Joe Simpson
clock 10 August 2026 • 4 min read
The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

A look at the three Ss of retirement income

James Peel
clock 04 August 2026 • 7 min read
What the decumulation shift means for advice firms, and how the best are responding

What the decumulation shift means for advice firms, and how the best are responding

'Technology is part of this picture in ways that are worth being honest about'

Andy Zanelli
clock 14 July 2026 • 4 min read