Savers need £600k pension pot for 'comfortable retirement'

However, in order to achieve this, a non-smoking male looking to take his annuity from age 65 would need to have a retirement fund of £616,400, according to Towry, the wealth adviser. The study revealed that only 27% of over-55s have already achieved a level of savings that they are confident will comfortably fund their retirement. Some 7% were actively considering delaying their retirement due to perceived lack of funds, the firm said. Towry head of wealth advice Kate Turner said: "Many of those who think they are on track with their savings and retirement planning may be well advise...