News & Views

How much should I be saving?

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.