Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: “The UK is certainly at risk of undersaving for retirement, the latest data from HL’s Savings and Resilience Barometer shows just 43 per cent of households are on track for an adequate retirement income.
“A key challenge is that people have pension pots spread across different providers and don’t have an idea of how much they have in total.
“Dashboards will help here but the further issue is that people don’t know what kind of income that pension pot will actually give them in retirement.
“Health checks could really help people in understanding this and you can also get some clarity by making use of some of the online tools that are available.
“Putting your details into an online pension calculator, like HL’s for instance, can help you to see what you are on track to save and what income that could give you.
“This will either give you the confidence of knowing you are on track or the time to do something about it if you aren’t.”
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