Everyday expenses are squeezing the life out of long-term planning, as a new report from UK’s online pension provider PensionBee reveals that over half of UK consumers are staring down retirement with growing unease.
Released on 17 September 2025, the research findings paint a troubling picture: just 11% of Brits feel “very confident” about affording a comfortable retirement, while a disheartening 53% admit to being either “not very confident” or “not at all confident.”
This crisis of confidence isn’t abstract—it’s rooted in the relentless bite of the cost-of-living crisis, which has forced many to sacrifice their financial futures for survival today.
The survey, polling 1,000 nationally representative UK adults, underscores how immediate pressures are derailing retirement planning.
Around 51% have either considered or actually reduced or paused pension contributions in the past year, citing soaring bills as the culprit.
Among the top money worries this September? Utilities and energy bills top the list at 26%, followed by food (20%), back-to-school expenses (16%), and rent or mortgage payments (15%).
To cope, 59% plan to slash discretionary spending—like holidays or dining out—while a concerning 30% are dipping into longer-term savings pots.
Even more alarming, 24% of those who’ve paused contributions fear they won’t be able to restart or catch up, potentially widening the chasm between current hardships and future security.
Industry professionals warn that these short-term fixes could compound into lifelong regret.
Lisa Picardo, Chief Business Officer UK at PensionBee said:
“Pausing pension contributions should always be a last resort, as missed contributions can add up to a huge difference in your retirement income.”
She advises those in a pinch to reinstate contributions as soon as cash flow eases and, crucially, to make up the shortfall within the same tax year to reclaim lost tax relief.
Yet, Picardo doesn’t stop at personal tips; she calls for bolder systemic reforms to shield savers from recurring crises.
These include gender-inclusive parental leave to close the pension gap exacerbated by career breaks, accessible funded childcare to ease family financial strains, lowering the Auto-Enrolment age threshold from 22 to capture younger workers earlier, and accelerating electronic pension transfers to cut administrative drag.
Picardo asserts:
“If we want a more resilient financial system that can withstand cost-of-living crises, then systemic change is needed. We cannot allow today’s contribution gaps to become tomorrow’s retirement poverty.”
PensionBee, the digital pension provider at the core of this discourse, isn’t just diagnosing the problem—it’s acting on it.
In addition to these updates, the company announced a strategic hire aimed at enabling consumers amid these very challenges: Maike Currie as Vice President of Personal Finance.
With over two decades in finance and consumer engagement, Currie is focused on financial services.
Her career kicked off as a financial journalist for FT titles like Investors Chronicle, evolving into senior roles at firms such as Hargreaves Lansdown (where she latterly headed marketing campaigns and content), Fidelity International (nearly a decade crafting pension-focused strategies), and Investec Asset Management (now Ninety One).
It’s also worth noting that Currie has supported financial wellbeing.
Currie will aim to steer PensionBee’s personal finance strategy, serve as a public voice on consumer issues, and amplify the firm’s ethos of simplicity and accessibility.
Jasper Martens, PensionBee’s CMO shared:
“Her … experience in personal finance, media and communications will be invaluable as we continue to work towards our mission of building pension confidence and putting UK pension savers back in control of their retirement savings.”
Currie’s arrival seems well-timed, arriving as PensionBee’s latest report lays bare the fragility of retirement hopes.
By blending her storytelling savvy with the company’s tech-driven tools—like consolidating scattered pension pots into one easy online plan— she could help bridge the confidence gap.
After all, in a landscape where 53% doubt their golden years, turning anxiety into action demands voices that cut through the noise.
As autumn bills loom, these updates from PensionBee serve as both wake-up call and roadmap.
For individuals, it’s a nudge to prioritize—even if modestly—while policymakers must heed the plea for structural fixes.