Could You Survive On The Minimum Income Guarantee?

Published / Last Updated on 08/04/2002

Recent figures from the Association Of British Insurers show that some people contributing to Stakeholder pensions will only receive the equivalent of the minimum income guarantee in retirement. According to the figures, the average contributions made into Stakeholder pensions is £81 per month. For a 35 year old male, the pension available at 65 could be £134 per week. The minimum income guarantee is £92.15 per week. Don't forget - if you are older than 35 or have chosen a lower retirement date than 65 or are paying less than £81 per month - your pension could end up at, or lower than the MIG level. More on MIG and state pensions .

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