personal finance

Pension warning: Over 50s 'facing £135k pension shortfall' for moderate retirement


Simon Stanney, equity release, marketing director at SunLife said: “According to our research, just 9 percent of people in their 50s are confident they have enough in savings, investments and pensions to fund their retirement; a further 32 percent say they ‘hopefully’ have enough with a 36 percent saying they definitely don’t.

“A further 15 percent say they are not sure.

“Obviously the average over 50s’ pension pot is not yet mature, and many over 50s will reach their target by the time they retire, but for others, especially those nearing retirement age, the amount they need to save each month is quite substantial if they are to build up a big enough pot to retire ‘comfortably’.”

It’s possible to get a state pension forecast online, using the “Check your State Pension” tool on the government website.



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