Swedes born between 1949 and 1954 were mostly satisfied with their financial situation in retirement, as 78 per cent of women and 85 per cent of men felt they were in a good or very good financial situation today, a survey from Insurance Sweden has found.

However, every second woman said their pension was lower than expected and a significant proportion of both men and women regretted not saving more.

The survey revealed that the most common regret for both men and women was that they wished they had saved more for their retirement, especially among those with lower education levels.

Insurance Sweden senior economist, Eva Erlandsson, said it was “positive” that so many pensioners felt their financial situation was “good”, but argued that it was “worrying” that the expectations of women were not being met.

She added that there was “clearly” a gap between expectations and reality that needs to be understood better, and was “important” that people had the "right information in good time" so they could predict their future pension and make informed decisions based on it.

"Regardless of how increased savings for retirement look, it reduces the scope for consumption. Compared with the state pension and occupational pension, private pension savings have the advantage that it is the individual who can adapt the savings to their needs,” she said.

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