Cost of living crisis causing £15,000 retirement losses

Scottish Widows report revealed pension savers are at risk of retiring with £15,000 less

Julia Bahr
clock • 4 min read
Cost of living crisis causing £15,000 retirement losses

In light of the wage stagnation and rising living costs deepening the UK’s retirement income crisis, the average earner in their thirties is set to see their pension pot reduce by £15,000 by the time they retire, according to Scottish Widows.

The firm's latest retirement report revealed that average earners in their 30s who were auto-enrolled in a company pension scheme in 2012 will have potentially contributed £7,000 less by 2024. T...

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