Inflation warning: ‘Retirees at risk of pension shortfall’ – how to boost your pots | Personal Finance | Finance

“Not only does this avoid them losing out on any hard-earned savings, but it means savers’ only have to pay one set of fees, rather than multiple fees for various pots, which can erode a pension’s value over time.”

Having just the one pension to worry about can give people a better understanding of their current pension savings and allow them to calculate any additional savings they may need to make before they retire.

Ms Savova encouraged Britons to view saving for retirement “as a marathon, not a sprint”.

This means there may be times where a saver may be able to contribute more or less to their pension.