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The Lowdown Hub

The time to save for your pension is in your 50s, not in hard-up youth


We are told some things so often that they seem like common sense. To be accepted, not to be questioned. Take pensions. For years it was the received wisdom that we weren’t saving enough for them. That we should start early, put in as much as possible, and as young as possible to benefit from the magic of compound interest. That women put far less into their pensions than men.

Ever since I can remember — and that stretches back to the 1980s — I’ve read regular dire warnings about the lack of pension savings to secure retirement incomes. These stories still appear with monotonous regularity. The reality? Look at the present generation of pensioners. They are significantly better off on average than they were through most of their working lives.