How much should I be saving?

News & Views

5th February 2021

The amount you need to save depends on the size of the pension pot that you want, it also depends on your age.

For example, putting 10% of your earnings towards your pension is fine if you are in your 20’s but this may have increased to 20-25% if you leave it until you are in your 40’s to get the same level of income.

For example if you are in your 30’s you should look at a percentage contribution of half your age or 15%.

It all depends on your circumstances and how much income you think you will need when you stop work but essentially you should contribute as much as you can afford.

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