According to PensionBee’s 2025 Pension Landscape, savers over 50 have significantly smaller pension pots than they need, with women holding an average of £30,644 compared to £54,512 for men. This gulf highlights how many Gen X savers, particularly women, are entering retirement without the financial resilience to support later life.
The picture is concerning. PensionBee’s Retirement Confidence Index shows Gen X is the least prepared for retirement across all age groups, raising fears they could be the first generation to face significantly lower financial security than their predecessors. Part of the challenge is timing. Many Gen Xers entered the workforce during downturns, endured stagnant wages, and lived through repeated financial shocks - from the dot-com crash to the global financial crisis. Just as they reached their peak earning years, the Covid-19 pandemic hit, further derailing long-term planning.
Beyond the numbers, this cohort has become the backbone of the “Sandwich Generation” - supporting both ageing parents and dependent or returning children. Faced with university fees, long-term care costs and mortgages, pensions often fall down the priority list. While property wealth has cushioned some, the lack of pension savings highlights a looming gap in retirement security. Without targeted support, Gen X risks being overlooked once again - and left to navigate retirement with far fewer resources than the generations around them.
Maike Currie, VP of Personal Finance at PensionBee, said: “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”
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