More than one in five Britons have cut pension payments in living cost crisis

With real wages falling and bills rising sharply, millions of people have been looking for ways to reduce spending. Photograph: urbazon/Getty Images

More than one in five Britons have cut their pension contributions or stopped paying in altogether as the cost of living crisis forces households to make difficult decisions, according to a study.

The research coincides with the head of one of Britain’s biggest fund managers, Abrdn, calling for a doubling of minimum pension contributions for millions of workers in order to avert a “very real” retirement incomes crisis.