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Pension pot-roast

Clients making large contributions may want to review their savings options now and there's lots to consider, says Rebecca Hughes

2 September 2013

It's not surprising that many people seriously underestimate how much money they need to salt away for a comfortable retirement. Pensions are hardly the dinner party subject of choice. But it would be foolish to brush it under the carpet altogether.

A pension pot of £500,000 sounds like a decent sum, but that may only buy someone an annual income of about £28,000. And for a pension pot of £500,000, you need to put in more than £225 each month, assuming you start saving at the age of 25. Leave it until 35 and that monthly figure jumps to more than £450. At 45, it becomes more than £900 a month.

Of cou...

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