Covid-19 crisis risks UK 'lost generation' of people about to retire

The coronavirus crisis could leave the next generation of retirees significantly poorer and sicker, according to research commissioned by the Centre for Ageing Better. The research, carried out by Ipsos Mori, found that the pandemic risks creating a “lost generation” of older people entering retirement in poor health and without enough money to support themselves in retirement. Almost half of people in their 50s and 60s believe their financial circumstances will worsen over the next year, and many report that their physical and mental health has deteriorated during lockdown, according to the research. “These figures are deeply worrying. If this generation continues to be an afterthought in the coronavirus recovery, we will see a lost generation entering retirement in poorer health and worse financial circumstances than those before them,” said Anna Dixon, the chief executive at the Centre for Ageing Better.