Full New State Pension payments during retirement means you need to work this number of years

dailyrecord.co.uk:

Recent data suggests that almost half (46%) of women do not think they have saved enough money in their their pension pot for retirement, while men are much more confident in their later-life savings with only a third (35%) concerned they have not set aside enough cash.

The research from workplace pension and savings fintech Cushon, conducted as part of its new white paper, comes at a time when value for money of pensions is being questioned, with the UK Government recently consulting on the issue, and its findings due to be published.

In its new white paper, Cushon is calling on the UK Government and industry to start listening to employees to drive pensions engagement and ultimately ensure better value for money.

As a result of the ongoing cost of living crisis, more than one in four (26%) large businesses are reporting an increase in the number of employees pulling out of workplace pensions, with the numbers expected to rise.Interestingly, almost a third (30%) of female employees want higher contributions to help them save for the future during the cost of living crisis, while nearly all women (92%) agree that employer contributions are important.Employers have a role to play in driving value for money by not only increasing their contribution rates, but also making pensions more inclusive and accessible for everyone.