Qualified advisers answering your
Financial Questions
call 0800 092 1245

Fair Investment reveals 'insufficient' pensions contributions

Men put around £100 per month into their pension, with women contributing just £50, a new report has found.According to Fair Investment, the pension payments represent just six per cent of the average UK male wage - and four per cent of female pay.This also suggests that both men and women are not putting enough by for their retirement savings.Fair Investment cited the general rule that savers are recommended to save half of their age when they first start pensions contributions, in order to fund a comfortable retirement.Following these guidelines, men would have had to have started saving at 12 years old - and women at just eight!Sharon Bratley, chartered financial planner at the firm, said: "The results suggest that future pensioners are going to struggle to survive on their pension annuities, as between four and six per cent of earnings is not a sufficient pension contribution."The problem we are facing though is that life expectancy is on the rise, and without adequate pension contributions, Brits are going to find themselves struggling to survive financially during retirement."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details