A double-whammy of pensions pitfalls could spell disaster for retirement for women in their 50s, a think tank director has warned.

Phoenix Insights, a think tank part of Britain’s largest retirement savings firm, has warned inadequate savings and funding caring could leave some with a “nasty shock” over the standard of living they can afford when they finish work.

The finance strategy organisation said research suggests one in seven pension savers are not putting enough aside to stop a major…