Pre-retirees expect to need over £30,000 a year in retirement, leaving over £18,000 gap to fill every year - IFA Magazine

Pre-retirees expect to need over £30,000 a year in retirement, leaving over £18,000 gap to fill every year - IFA Magazine

New analysis from Broadstone of the Department for Work and Pensions latest survey, Planning and Preparing for Later Life 2024, show the gap people need to fill between their income aspirations in retirement and the amount provided by the State Pension.  People aged 40-75 who are yet to fully retire said, on average, that they need an income of £30,525 to live on in later life. A single pensioner today on £30,000 per annum will be in the top 15%…