Property News · May 26, 2012

Want a £20,000 pension? You'll have to put aside a quarter of your salary


Scottish Widows report highlights a yawning gap between what people expect to receive on retirement and the grim realityRetirement savings have hit a record low, with the number of people putting aside money for a pension falling by 5% last year alone, according to a report this week. Meanwhile, figures prepared for Money suggest even middle-income workers in company schemes will have to find an extra £600 a month to fund even a basic level of retirement income.The eighth Scottish Widows annual report on UK pensions found that less than half of the population is putting enough aside for their retirement, with 22% saving nothing at all. Women are in a much worse position than men, with just 42% having adequate savings compared with 49% of men. Continue reading…

Source : theguardian.com
Read more…Want a £20,000 pension? You’ll have to put aside a quarter of your salary

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