How to Make Your Retirement Last 20 Years and Pay Less Taxes, to Fight Rising Annuity Rates in 2022

How to Make Your Retirement Last 20 Years and Pay Less Taxes, to Fight Rising Annuity Rates in 2022

Longer life expectancies, higher cost of living and collapsing annuity rates mean careful planning is needed to make even substantial pension pots last.

According to the Pensions and Lifetime Savings Association, a single pensioner needs an average of £10,900 a year to live a “minimal” standard of living in retirement. To achieve a “moderate” standard of living, a pensioner will need an average of £20,800 a year.

In reality, most savers are far from reaching this level of retirement income. According to advisory service Profile Pensions, the average pension pot is £68,014 after a lifetime of savings.Meanwhile, the average saver has […]

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.