If it sounds bleak, that’s because it is, but there are some simple things you can do to empower yourself financially and secure as much of your future as possible.

As Jacqui Bateson, a retirement specialist at Skipton Building Society, previously told Stylist: “Start saving little by little, as soon as you can. There is so much happening now that needs attention and money: rent or a mortgage, family, holidays, eating out, the list goes on. But the younger you are when you start saving for retirement, the smaller the amounts you need to put away will be. These small amounts really will add up over time, so don’t limit your thinking about retirement – focus on the possibilities instead. You can talk to your employer and friends and family to find out what others are doing to give you some ideas.”

For more information on retirement and your pension, visit the government’s website.

Women will need to work 19 extra years to retire with same pensions as men