Workers need pension fund of at least £130,000 - Pru

And it is not just this year’s retirees that need to save more. According to new research from Prudential, people retiring over the next 15 years will need even more money as the proportion of their pension made up from State benefits begins to decline and longevity continues to increase. Those retiring now can expect to live till at least their early 80’s, but with State benefits only accounting for about half of the average pensioners income of £12,500, people still need to find over £6,000 from private pensions or savings to make up the difference. Prudential suggests this means the ...