Are you saving enough for a comfortable retirement?
Even if you’ve been saving for retirement for most of your working life, your pension may not be big enough for you to live on comfortably when you do stop working or provide enough for your dependant(s).
The Scheme is considered to provide reasonable benefits for many of its members in retirement but depending on your circumstances this may not be the case for you.
Your pension may not be enough to live comfortably on if you:
- Had a career break;
- Joined the Scheme later in life;
- Previously opted-out;
- Want to retire early;
- Want to provide more for your dependant(s); or
- Have moved jobs a few times.
What can you do?
One option is to make extra contributions to boost your pension. Whatever you do, you should seek independent financial advice from adviser before making any decisions. To find one, visit register.fca.org.uk and note that you will be responsible for arranging and paying for any advice you receive.