Monday Musings 22/02/2021
I GUARANTEE YOU ARE NOT SAVING ENOUGH AS WE KNOW MANY ASK ‘AM I SAVING ENOUGH FOR MY PENSION?’
This was the headline of an article in the Times this Saturday by their Money Editor. The thrust of the article was that those who are in a Final Salary pension scheme, in the main people in the public sector, have an average of 25.6% of their salary being paid into their pension, whereas the average for people who are in “normal” defined contribution schemes contribute is 8%. including the employer contribution of 3%. Bearing in mind that the 25.6% contribution level provides a comfortable retirement it does not take much thought to see that 8% does not. The problem is often even greater for the self employed who often contribute even less.
If you would like to know what sort of retirement your pension planning is likely to give you Straight Talk Wealth Management can help you.
So, to the markets
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