Renters have been asked to pay for their OWN pension
The Labour Party’s Independent Review of Retirement Income (IRRI) has suggested that workers should be aiming to save 15% of their salary into the pension each month, according to a BBC report.
The other week, in an FT piece that went viral, Rebecca Taylor, director at the Chartered Institute for Securities and Investments, said that 25-year-olds should be aiming to pay an average of £800 a month into their pension for the next forty years. Now this is an average: less now can be balanced out by paying more later. But the message is clear: start now.