Recent PPI research found that generation X, people aged 39-53, are more likely to have difficulty achieving a retirement income that is adequate, sustainable and flexible than baby boomers (aged 54-73).

Changes in the economy, pensions landscape and labour market are driving risks to future retirement provision which, without a collaborative effort from government, regulators, industry, employers and savers themselves, also risk being sustained and even accelerated for generations which follow.

On average, generation X has lower DB provision and proportionately less state pension than baby boomers.

Auto-enrolment has come too late to deliver the positive impact on pensions that it will for millennials (aged 19-38).

They could also face higher living costs in retirement as home ownership is falling and debt rising, whilst the value of their wages, pensions and property is growing more slowly than baby boomers at the same age.

People may need to save more than older generations to achieve a similar standard of living.

Most at risk include women, those with non-linear employment patterns, low earners, and those unable to work until state pension age.

The proportion of people at risk in higher-paid occupations is also rising as the dependence upon personal resources in later life increases.

Generation X still have time to improve their retirement prospects, but they don’t have time to waste.

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