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How much do you have in your pot?
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The real kicker is inflation, what is a good pension income now wont be in 20-25 years.
For long periods like 20-25 years, it isn't just inflation but earnings growth which needs to be factored in to calculations about adequacy.
Someone with a £27K pension today has an income about equal to full-time earnings.
In 25 years that would need to be £44,300 to be the same in price terms (inflation at 2%). But to have a pension that is still equal to average earnings a pension of £72,000 would be needed (earnings growth of 4%).0 -
Like most, it depends how you value your DB pension for me. DB, AVC & SIPP for lifetime allowance purposes would be £47k currently at age 27.0
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