Young workers must save £800 per month: deVere

The research added that waiting just one year later to put money away would increase the amount needed by 7.65%, to £887 a month. Waiting until age 40 or 50 to start saving would mean saving significantly more to reach the same figure, the firm said The calculations are based on the UK's average salary of £26,500 per year, and the assumption of retiring at the default age, with a pension income of 75% of pre-retirement earnings. deVere Group chief executive Nigel Green said: "These figures are particularly alarming as latest official figures reveal that contributions to private pen...