Millions of Savers Face Retirement Financial Shock with Insufficient Pension Savings
Alarming research reveals that nearly half of individuals over the age of 55 have less than £50,000 saved in their pension, leaving millions of savers vulnerable to financial instability in retirement. A report by stockbroker Interactive Investor, seen by Money Mail, highlights the extent to which workers are undersaving for their later years. To afford the bare necessities and maintain a modest standard of living in retirement, pensioners need a retirement nest egg of £59,900, in addition to a full new state pension.
The calculations, undertaken by Alice Guy […]
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