Article preview: Have you stopped saving into your pension as a result of the Covid-19 pandemic? New research from Legal & General has found that workers in their fifties who put pension savings on hold could be nearly £100,000 worse off at age 75. The calculations show the impact on pension savings for those in their fifties who stopped monthly contributions and failed to start saving again, but continued working full-time until their retirement. Legal & General initially ran their research back in May, and found that people aged 50 to 59 years old had cut back on their retirement savings by an average of £175 a month.
Stopping pension contributions now could derail your retirement plans
This 769-word blog post reports on new research from Legal & General looking at the impact of stopping pension contributions as a result of the Covid-19 pandemic. Written on 22nd September 2020.
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