Many Middle-aged Savers Face A Grim Retirement As Two Recessions And A Stingier Pension System Undermine Their Ability To Provide For Old Age New Research Reveals

Many middle-aged savers face a grim retirement as two recessions and a stingier pension system undermine their ability to provide for old age, new research reveals.
The financial crash and the coronavirus crisis will disrupt the earnings of many people currently aged 40-55, who will also miss out on generous final salary pensions and the full benefits of auto-enrolment.
Just 5 per cent of middle-aged workers are saving more than £750 a month into pensions, though you need to put aside £800 a month to fund a 'moderate' retirement lifestyle, according to financial technology firm Dunstan Thomas.
Working from home: kynghidongduong.vn Coronavirus pandemic has accelerated more flexible practices which favour older people who will want to work beyond retirement age
A high redundancy rate among people in this age group and declining access to financial advice are other factors affecting their chances of a 'conventional' retirement, adds the firm.
Many will probably go on working well into their 70s, though this will be a lifestyle choice for some, not just about financial necessity, it says.
How do you sort out your pension? Find out how to rescue it from a shortfall below
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In broad terms, it estimates a single person will need about £10,000 a year for a basic standard of living, £20,000 a year for a moderate lifestyle, and £30,000 a year for a comfortable old age. 
For couples, the figures are £15,000, £30,000 and £45,000 respectively.
Dunstan Thomas, which surveyed a nationally representative group of 2,000 people who are currently 40-55 years old, found their average pension pot was £159,800 and they are making pension contributions of about £200 per month.
Their average non-pension savings and investments are around £71,600, including buy to let property but not the value of their own homes. 
Some 25 per cent have no personal pension, savings or tour thác bản giốc investments.
Meanwhile, the axing of generous and guaranteed 'final salary' pensions by private sector employers means just 27 per cent of middle aged workers are now in line to get one at retirement.
Some two out of five have been made compulsorily redundant while one in five has taken voluntary redundancy at least once, [/money/pensions/article-7921483/Redundancy-40-drag-effect-pension-savings.html experiences that can blow massive holes in pension pots.] 
<div class="art-ins mol-factbox money" data-version="2" id="mol-9b959e40-ba08-11ea-98c3-1dcfabbf6ccd" website do I sort my pension before it's too late?