There's a pension crisis hitting people in their forties – but there is also a fix

If you’re in your forties and have neglected your pension, you’re not alone.

With other financial priorities to juggle, like the mortgage and childcare costs, retirement saving can easily slip down the to-do list. Now, a quarter of people above the age of 40 don’t have a private or workplace pension, Government figures show.

But there is still time to turn your retirement fortunes around and build a substantial pot for your future, something Andrew Lager, 42, has managed to do.

Andrew, a project delivery manager, started a pension for the first time in 2019 when he switched from being self-employed to an employee of a large engineering company.

“I got married, had a son and thought it was time to think seriously about my future finances. I had no pension so I knew I had to put a lot in to play catch-up,” he says.