Overview
- On ITV, Martin Lewis set out a “halve your starting age” rule to guide pension saving.
- He said someone who began at 30 would target 15% of pay for the rest of their career.
- The guidance applies to private and workplace pensions, not the state pension.
- Private pension access is 55 and rises to 57 in April 2028, while the state pension age is 66 with further increases planned.
- The PLSA says a single person needs £13,400 a year for a minimum retirement, £31,700 for moderate, and £43,900 for comfortable.