People on average earnings need to squirrel away just over £300,000 into a pension over the course of their working lives in order to maintain their current lifestyle in retirement. The government’s recent auto-enrolment review highlighted that to maintain a worker’s current lifestyle into retirement, people should aim for a target percentage of income from their pre-retirement years. On a numerical level, it said that those with average earnings of £27,000 should target an income equivalent to two thirds of their working age income. For average earners, the figure’s £18,000 a year or £1,500 a month.
But analysis from pension […]
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