What is the pensions calculator supposed to prove?

Author	Message
Written on: 14.11.2009 [15:47]
Maass Topic creator Posts: 2	I just typed my data into a pensions calculator online and it told me that the amount I'm saving each month will only generate 20% of the annual income I'll need as a pensioner! How am I supposed to live?!
Written on: 17.11.2009 [22:46]
Clarisse Clarisse Posts: 10	Check that you entered all the details correctly. Sometimes it asks for your annual salary, and if you only enter your monthly salary it will miscalculate! Also, remember that you will be getting a state pension, as well as income from your private pension. If the numbers are correct and you're facing the future as a poor pensioner, think of ways to bridge the gap. Maybe you could reduce your expenses elsewhere and start putting more money into your pension fund! Or plan on working a few years longer?
Also very interesting: Can someone explain the Pension Protection Act lump sum debate to me? Where to get free and simple information regarding the pensions A day? Finding an easy to use pension-value calculator Dept of Works & Pensions access to bank details? Why have final salary pensions stopped? FSA Pension calculator query: what is the lump sum? Is it necessary to send medical forms to the pensions office? Possible to recontract back into Serps pension? What is a pension protection lump sum death benefit? Are companies able to raid companies’ pensions and steal from its employees?