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Your essential guide to saving for retirement

Important Information: The value of investments can go down as well as up so you may get back less than you invest.

People are living longer and are more active in retirement, so there are more opportunities to tick off all those things on your bucket list you didn’t have the time to do when working. But it also means a longer retirement to plan for.

Did you know a single person will need about £30,0001 a year for a comfortable retirement? With the new State Pension paying a maximum of £9,339.20 per year, there’s clearly a gap.

Taking control of your retirement savings is therefore crucial and it’s important to make the time to consider how to balance our needs of today with our needs and desires for the future.

You may be asking yourself:

  • How much do I need to save for my retirement?
  • How much do I need to save each year?
  • How can I retire early?

Our Guide to Saving for Retirement provides you with all the essential information you need to help you be better prepared for the future you want.

Source: 1Pensions and Lifetime Savings Association – UK Retirement Living Standards October 2019.

Important information - the minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age. Tax treatment depends on individual circumstances and all tax rules may change in the future. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment, you should speak to an authorised financial adviser.

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Voted Best Buy 2021 (Boring Money Awards):

  • Best Buy Pension
  • Best for Beginners Pension
  • Best for Low Cost Pension

With our flexible, award-winning SIPP you choose what to invest in and when. You’ll also benefit from regular market insights, portfolio analysis and comparison tools and plenty of online guidance to help you decide where to invest. Plus if you’re thinking of taking tax free cash or a more regular income from your pension, our team of retirement specialists can help.