Pension savers face running out of money just 11 years into retirement

There’s a stark difference between the retirement income pension savers want and the amount they are set to have saved

Pension money running out concept
(Image credit: Getty Images)

An average saver wants more than £30,000 a year to live on in retirement, according to a new study – but their pension pot will only give them that income for just over a decade before they run out of money.

A survey of 3,000 UK consumers found the average personal ‘target’ pension pot for retirement is £253,701.

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Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites