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How much should I save for retirement?

1st May 2024

The amount you need for retirement will depend on your health, lifestyle, debt and savings. No two people will be the same. But thanks to Independent Financial Advisers Wren Sterling, we have some guidance to help you work out how much you need to save.

In theory, most people’s lifestyle will slow down when they reach retirement and their income needs should be reduced. That’s not always the case and if you’re looking to do lots of travelling or make large purchases, logically, you may need a bigger pot. Remember, there’s also the state pension, which can top up what you’ve saved personally. The government website is the best place to look for more information on the full state pension.

How much do I need to budget?

The amount you need to budget is dependant on your individual circumstances and pension fund performance. Please book an initial free, no obligation appointment to discuss your requirements.

How do I save for retirement?

The most tax-efficient way to save for retirement is via a pension. This could be your workplace pension or a personal one. If you’re employed, speak to your employer about your workplace pension. If you’re self-employed, you can get support from your accountant or an Independent Financial Adviser.

How can I boost my retirement savings?

One of the quickest ways to boost your pension pot is to start saving more pension contributions as quickly as you can.

An Independent Financial Adviser can help you make the most of your savings to help you achieve your financial goals and recommend the most appropriate pension fund for you.

To book your free, no obligation appointment with a Wren Sterling Financial Adviser, visit or call your local branch.


The value of your investments may go down as well as up and you may not get back the full amount invested.

Leek Building Society is a trading name of Leek United Building Society, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with firm reference number 100014.

Leek Building Society is an introducer to Wren Sterling for investments, pensions and protection. Wren Sterling is a trading name of Wren Sterling Financial Planning Limited, which is authorised and regulated by the Financial Conduct Authority, Financial Services Register number 665653. Registered office: 13-19 Derby Road, Nottingham NG1 5AA Registered in England No. 09157918.

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