A full state pension from April 2016 will pay £155.65 a week. That is based on you having made a maximum 35 years of qualifying National Insurance contributions.

Only people living in Chile and Mexico live on less in retirement.

If you have saved for your retirement into a personal pension the report says you will retire on 67% of your former salary.

If you are relying on the state pension your retirement could be bleak.

To find out how much you need to start paying into a private pension please visit our calculator.

Source: OECD

For bespoke pension advice on your retirement contact Credencis.

We are situated between Derby and Nottingham and visit clients nationwide.

Credencis

“Live for today, Invest for tomorrow”

The post UK State Pension’s the worst in the world – Pension Advice Derby appeared first on Pension Adviser Nottingham.

Research from Brewin Dolphin show that for a target net pension of £20,000 at age 68 – excluding the state pension currently set at £115.95 per week for a single person – 25-year-olds would need to find £790 per month, including their employer’s contribution.

However if the employee waited until they were 35, the monthly payments would be £1,145, and ten years later it would cost £685 more per month.

Starting a pension savings plan may not be top of your priorities, but you may be surprised how much of a difference starting earlier could make to your future – and you should consider the risks of delaying your pension contributions.

Please use our Pension Calculator to get an estimate of what contributions you need to pay to achieve your goal in retirement.

Source: Brewin Dolphin

For bespoke pension advice contact Credencis.

“Live for today, Invest for tomorrow”

The post Start your Pension now or lose thousands in Retirement – Pension Advice Derby appeared first on Pension Adviser Nottingham.