Help clients maximise excess savings to boost retirement prospects

As clients save more it is essential to get the best long-term returns

clock • 5 min read

Adrian Boulding explores the potential to boost retirement income prospects as average household savings levels rise

Evidence from recently published research conducted by the Pensions Policy Institute (PPI), working with the Pensions & Lifetime Savings Association (PLSA), focuses on the need to increase young workers' pension contributions from the 8% of salary that auto-enrolled defined contribution-based (DC) pensions currently deliver by default, to at least 12%. Some even argue that median pension contribution rates need to rise to 15% to counteract lower growth of investments as well as increasing life expectancy which is set to lengthen retirements for 22-year-olds today by at least four years (...

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