Topic analysis

Three quarters of workers not on track for 'moderate' pension income, report suggests

A report by Pensions UK warns that over three-quarters of UK workers are not on track to save enough for a "moderate" retirement lifestyle—estimated at £32,700 annually for a single person and £45,400 for a couple—due to rising living costs. Only 9% are on course for a comfortable retirement (costing £45,400 for one and £62,700 for two), while 82% will reach the minimum standard, prompting calls for action from workers, employers, and the government to boost retirement savings.