Basic Living Costs Need More Than Basic State Pension
The basic state pension will not cover the costs that are involved with a reasonable standard of living say the Prudential.
A Prudential spokesman stated that everybody should really be saving more for their retirement than they are currently. Without a reasonable pension pot life is going to be very hard for a lot of people as they hit 60 and 65. This does assume no major changes to the existing retirement benefits offered.
Data provided by the Prudential reveals that around 35 percent of people are currently worrying about their future pension provisions and the problems they could face when they retire.