4 September 2024
Your annual benefit statement gives you an idea of how much your pension pot might be worth on your retirement date, but will it be enough?
Fidelity have lots of tools on their website that can help you work out if you’re on track for the retirement you want.
For a quick idea of where you stand, take a look at Fidelity’s user-friendly retirement calculator. It uses your answers to work out how you measure up to the ‘Retirement Living Standards’. The Standards were set up by The Pensions and Lifetime Savings Association (PLSA) to help people understand how much income they might need to have a minimum, moderate or comfortable lifestyle in retirement. They’re based on independent research by Loughborough University and have been adopted by many pension providers.
If you think you might end up short, there are many ways to pay more into your DC account if you’re an active member. You can either increase your regular contributions, set up additional voluntary contributions (if you’re already paying in enough to get the highest contribution from Roche), or arrange to have all or part of your bonus paid into your DC account.