Pensions savers play ostriches

According to the survey of 300 IFAs in the Sesame network, 27% of people believe a retirement fund of up to £100,000 will provide a realistic pension pot, although this is the equivalent of living off an annual salary of just over £7,000. The average ‘ideal’ pension pot is £187,000, providing annual income of £13,421 – or some 40% below the average national wage. Some 16% of people believe a pot of between £100,000 to £250,000 would provide the income required – between about £7,000 to nearly £18,000 respectively. Only five percent of people have a realistic idea of how much money...