One in four facing short-term barriers to retirement savings

For those people who are on track with their pensions savings, around one in four lacked surplus income. Similarly, around 14% did not have adequate savings. The platform business calculated this using its savings and resilience barometer, which tracks the Pensions and Lifetime Savings Association's Retirement Living Standards as a template for a ‘moderate' retirement income - £20,800 for one person and £30,600 for a couple. HL senior pensions and retirement analyst Helen Morrissey praised auto-enrolment for getting more and more people contributing towards a pension but said risks to...