Legal & General's pension strategy director Adrian Boulding has produced a simple test for those who...
Legal & General's pension strategy director Adrian Boulding has produced a simple test for those who want to work out how much they need to save to retire on two-thirds of their final salary. Boulding said to achieve this an individual needs to make a pension contribution which, as a percentage of their pay, is at least half the age at which they start saving. For a 20-year-old, this is at least 10% of salary, at age 30 it is 15%, at age 50 at least 25%. Diane Buckley, director of the corporate business division at L&G, said: 'Individuals also need to increase the amount they save each ...
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