Delaying on personal accounts 'could cost £116K'

According to Fidelity, someone aged 30 who begins saving today, contributing the full £3,600 amount allowed annually, could build a pot worth £612,000 by the age of 65. If that same person were to wait until personal accounts are introduced in 2012, then they would save just £496,000 at 65, £116,000 less. Latest research from Fidelity shows that one third of under 35s think they can defer saving until later in life, and nearly one in five aged 35 to 54 agree. Simon Fraser, president of institutional business at Fidelity International, is concerned about this trend and says: “There’s a bi...