Critical illness could treble monthly pension target - L&G

Research by Legal & General (L&G) found someone aged 30 would need to save around £290 per month in order to live comfortably in retirement. But it says having a critical illness, such as a heart attack or stroke, can delay paying into a pension. A delay of 10 years, the life and pensions firm argues, would leave an individual needing to save £635 each month to achieve an equivalent pension. Legal & General says the research highlights the devastating impact a critical illness could have on an individual’s savings plan. Bonnie Burns, protection product marketing director at L&G, says: “I...