Yes, yes it is old news but it cannot be said enough. Most people don't understand pensions and most people overestimate how much the have and underestimate how much they need.
This report from Aegon puts a few more numbers around the subject.
And of course it is in Aegon's best interests, as a financial services company, to paint a bleak picture of the readiness of its potential customers for their retirement.
But whatever way you want to look at the numbers, and there have been zillions of them published about pensions, it is a Grade A* mess and will cast a long shadow over the spending capability of retirees for the next generation or two at the minimum. Dick Stroud