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    Home - Business - Pension pot amount needed for ‘basic’ retirement rises 60% in three years
    Business

    Pension pot amount needed for ‘basic’ retirement rises 60% in three years

    By David Pike1 Min Read
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    Pension pot amount needed for ‘basic’ retirement rises 60% in three years

    Pension pot amount needed for ‘basic’ retirement rises 60% in three years

    Research shows ‘alarming’ rise in essential living costs during retirement, with low-paid workers worst affected. The average pension pot needed for a “basic” retirement has risen by almost 60% in three years, according to research that highlights how the UK cost of living crisis has left many workers fearing they will never be able to retire. The study from the Resolution Foundation think tank and the Living Wage Foundation found that a number of price rises across housing, energy, food and transport had helped “significantly” increase the cost of securing an adequate income in retirement.

    Continue reading…

    https://www.theguardian.com/uk-news/article/2024/sep/04/pension-pot-amount-needed-for-basic-retirement-rises-60-in-three-years

    State pensions The Guardian UK featured
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    David Pike

    David Pike is an experienced news journalist with over 20 years experience as a UK News editor for WTX News and other news publications.

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