Savers underestimate how much money they need to retire by £100,000 - Foster Denovo

The UK advice firm surveyed 2,000 people and found a severe disparity between consumer's confidence and the reality of what their pensions would be worth. According to the research, one third of consumers were not aware of the current value of their pensions and close to two thirds (64%) still believed they had enough to retire on. When asked how much they thought they would need in retirement, the average response was £125,700. Foster Denovo highlighted research by consumer publication Which? that suggested in order to earn £27,000 a year in retirement, a person would need £215,45...