You probably are saving enough for your retirement, but you might want to change how you do it

Asset managers claim we aren’t saving enough for our retirements. We probably are, says Merryn Somerset Webb. But it might be an idea to change how we invest.

Handsful of cash
Don't worry. You'll probably have enough
(Image credit: © Getty Images/iStockphoto)

You aren’t saving enough. How do I know? Because fund management companies keep telling me so.

My inbox is jammed with press releases from them. “Is saving half your age into your pension enough?” asks one. Answer: No. Current auto-enrolment numbers are “simply not enough”, says another. “One in four women over 50 have less than £5,000 in their pension pot,” screams a third. Oh, and “two-thirds of people aged 50-65 are undersaving for their retirement,” and so on and so on.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.