Retirement can be an expensive business. Living longer means we need more in our retirement pots to fund the lifestyle we desire in later life. But how much harder has the ‘pension mountain’ become to climb in recent years? Much harder, it turns out. New research from mutual insurer Royal London has revealed the extent of the challenge, finding that a pension pot of £260,000 is needed in order to avoid an uncomfortable retirement for the typical worker. This ‘pension mountain’ has grown in size in real terms by three quarters since 2002, when it stood at a relatively modest £150,000.
Climbing the pension mountain
This 668 word blog post shares the latest research on the growing size of the ‘pension mountain’ the average retiree needs to climb to enjoy a comfortable life in retirement, as well as encouraging readers to calculate their own number so they can plan effectively. Written on 16th May 2018.