Almost 40% of people not saving enough for a basic retirement - is your pension pot big enough?

Research from Scottish Widows shows two-fifths of people are not saving enough to secure even the minimum standard of income during retirement

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Millions of people are not saving enough to secure even the minimum standard of income during retirement, with many feeling they will not be able to retire at all due to financial pressures.

According to a study by Scottish Widows, 38% of people are not on track for the most basic retirement lifestyle, which is defined by the Pension and Lifetime Savings Association as having enough money to cover basic needs with some left over for fun.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.