24 Jan 2020

Workplace Pensions Shortfall

Its been calculated by Aegon that if a 22 year old has the prescribed personal and employer contributions paid in to their workplace pension scheme from now until retirement, they will have £106,500 less in their pension pots than they need to live as they are accustomed to.

It’s important that people are aware that the workplace pension scheme is great as a starting block and to give people a vital savings mentality, but in itself, the prescribed sums will likely not be enough.