Generation X savers are heading into retirement underprepared, with new PensionBee research warning they could become the first generation to see a decline in financial security compared to their parents.
The 2025 Pension Landscape shows pension pots are far below what is needed, with women holding an average of £30,644 compared with £54,512 for men, a gap that leaves many without sufficient financial resilience for later life.
PensionBee’s Retirement Confidence Index also shows that Gen X is the least prepared age group for retirement. Many began their careers in downturns, faced weak wage growth and were hit by financial shocks from the dot-com crash to the global financial crisis, before the Covid-19 pandemic disrupted saving during their peak earning years.
In addition, PensionBee highlights the pressures of the “Sandwich Generation,” with Gen X often supporting both ageing parents and adult children. According to PensionBee, these competing demands have forced pensions down the priority list.
The research shows a growing retirement gap, with property wealth providing only a limited cushion, raising concerns that Gen X could become the first generation to retire with less resources than both their parents and Millennials.
PensionBee VP of personal finance Maike Currie says: “Generation X has been squeezed from every angle, sandwiched between caring for ageing parents and supporting children, all while weathering repeated economic shocks.
“It’s little wonder that pensions have slipped down their priority list. But the reality is that this generation is heading towards retirement with far less financial security than their parents enjoyed.
“Unless we act now, Gen X could become the first generation to retire worse off than the one before. That should be a wake-up call for policymakers and the industry to provide the tools, support and flexibility this overlooked generation urgently needs.”
