Fewer than one in ten of the UK working population are on track for a comfortable retirement, according to Pensions UK figures cited by PensionBee.

The research also found that just 23% are on course for a moderate standard of living, signs of a growing gap between retirement aspirations and savings.

PensionBee said its own research showed Britons remained optimistic about the retirement they wanted despite being less confident about their ability to fund it

The fintech company said savers could narrow the gap by tracking down old pension pots, checking their state pension forecast, understanding the income needed for different retirement lifestyles and reviewing contribution rates. An estimated £26bn is currently held in lost or forgotten pension pots across the UK.

Becky O'Connor, head of pensions at PensionBee, said: “Most people want a decent retirement, but what they often lack is a clear picture of where they actually stand. That gap between what people hope for and what they are saving towards is arguably the single biggest problem in UK pensions and a few hours of planning can start to close it.

“Check what you have, check what you need, and work out the difference. The earlier you do it, the more time you have to do something about it.”

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