10th September 2019

Information from HMRC shows that those aged 43 to 54, often referred to as Generation X, account for the largest proportion of the UK’s personal pension contributions, equating to 43% of total contributions made in the 2015–16 tax year, the latest year for which data is available.

However, there are fears that they are still not saving enough. Figures from the Office for National Statistics show their average private pension wealth was approximately £70,400, and it’s estimated that in order to retire comfortably, that figure should be nearer to £187,400 at this stage in their working lives.