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Make your pension pay if you decide to stay in the UK
Article by Jennifer Hill, The Sunday Times Money Supplement, 4 October 2009
Rising longevity could mean all your calculations need a rethink.
Research compiled for The Sunday Times by Barnett Waddingham, the actuary, reveals that those now aged 20 looking to retire in 50 years on a £20,000 pension could have to save as much as £85,000 more than today’s projections. “Increasing life expectancy will lead to lower annuity rates in the future and, therefore, you’ll need to save more to get the same pension,” said Clive Grimley at Barnett Waddingham.
To read the whole article visit The Sunday Times website.