She said: “What struck me when I was living on the state pension was how tough it was, especially in the middle of a cost of living crisis, and that’s without the energy bill hike due in October.
“While it was possible to pay for everyday items, such as food, there was no money left over for unexpected bills.
“The state pension is the foundation of most peoples’ income in retirement, but it is highly unlikely to pay enough for the life you’d like in retirement.”
There are, of course, alternative pension options which may be worth exploring given the findings.
Auto-enrolment has opened up larger numbers of people to a workplace pension, and there is also the opportunity to put money aside oneself into a private arrangement.