How much is enough?

It depends on your personal circumstances but, as a guide, experts say that you should aim for a pension income of two thirds your final salary. So, if you’re earning £350 a week, aim for at least £230 a week

Remember that you could spend 20 years in retirement. If you retire at 65, on average you can expect to spend a further 18 years approximately in retirement if you’re a man and 21 years if you’re a woman, so you need enough savings to provide an income for a long time.

And don’t forget that the cost of living will probably increase and inflation is steadily eroding away the value of pension savings.

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