Young workers need to put away £131 per month for comfortable retirement

James Phillips
clock • 2 min read

Savers aged 20 need to put away £131 every month into a defined contribution (DC) pot to achieve a £26,000 annual income in retirement, Which? research has suggested.

The figure rises to £198 for 30-year-olds, £338 for 40-year-olds, and £633 for 50-year-olds, and assumes 20% tax relief, 3% investment growth, and a state pension top-up. Saving this amount woul...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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