Men in their 50s have around £17,000 more saved for retirement than women
Retirement confidence is on the rise, with more than half of savers yet to retire feeling they will be able to do so comfortably, according to research by Aegon.
Nearly nine million employees aged 45 and over are "sleep-walking" into retirement, unaware of how much they need to save, according to research from Aviva.
Just one in three UK businesses have reviewed their pension strategy in the last two years, according to research by Capita Employee Solutions.
Putting DC savings into a wider context for members will help pension provision to be seen as part of an individual's overall financial wellbeing, Aon has suggested. Holly Roach reports.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
People in their mid-career aged 35-49 are the most likely to struggle with saving for retirement, according to Aon's 2018 defined contribution (DC) and financial wellbeing member survey.
The number of companies offering employees flexibility in use of pension contributions is set to triple over the next two years, Willis Towers Watson (WTW) says.
Working people in the UK who are not saving enough for retirement number 11.9 million, according to research from the Department for Work and Pensions (DWP).
More than half of the public believe auto-enrolment (AE) will ensure better security in retirement for younger generations, according to research from NOW Pensions.