Research from Halifax has found that the average person in Britain only puts around one hours' worth of salary every week towards a pension for their retirement. The provider found that only £12.77 was put aside by the typical working person.
Over a year, this totals £664, and a working life saving of £29,550 or 2.9% of the average salary of £22,900 over 44.5 years.
According to the Halifax, out of an average total of 11,570 working days in a lifetime, only about 336 days worth is saved for life after work.
Our view
We cannot stress enough how important it is to have a good, solid pension fund.
At , we see too many people who do not save enough towards their retirement and then regret this fact when it is too late.
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