Pension time bomb could hit nine million Brits
NINE million Brits are "sleepwalking into retirement" and face a pension poverty unless they act soon.
Many don't even know what type of pension scheme they have or how much the state pension is currently worth, according to the survey of roughly 2,000 employees and 1,000 employers. This is based on the current minimum employee and employer pension contributions under auto-enrolment alone - a combined total of 8 per cent.
This rises to £26,000 for couples who want to be able to go on holiday and take part in other leisure activities.
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