Research shows ‘alarming’ rise in essential living costs during retirement, with low-paid workers worst affectedThe average pension pot needed for a “basic” retirement has risen by almost 60% in three years, according to research that highlights how the UK cost of living crisis has left many workers fearing they will never be able to retire.The study from the Resolution Foundation thinktank and the Living Wage Foundation found that a number of price rises across housing, energy, food and transport had helped “significantly” increase the cost of securing an adequate income in retirement. Continue reading…
Source link : https://www.theguardian.com/uk-news/article/2024/sep/04/pension-pot-amount-needed-for-basic-retirement-rises-60-in-three-years
Author : Rupert Jones
Publish date : 2024-09-03 23:01:24
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Pension pot amount needed for ‘basic’ retirement rises 60% in three years
