Savers need a £630,000 pot to invest or £643,000 to buy an annuity at retirement to fund a comfortable old age, according to a new study.
That assumes an individual also qualifies for a full new state pension, currently worth £10,600 a year, to achieve a total income of £37,300 a year.
The annual cost of a financially secure old age is based on the standard industry measure of what people need for a minimum, moderate or comfortable retirement. Retirement plan: Are YOU on target to save a £630k pension pot, and qualify for a full state pension? Incomes of £12,800 […]
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