Men Less Prepared for Retirement than Women

FUTURE PROOF: Women are more modest in their pension requirements - and more fastidious about retirement planning, although too many have it all in cash

Emma Wall 8 July, 2014 | 1:33PM

How much retirement income do you think you need for a comfortable retirement? Young professionals are more modest than you might expect when it comes to a pension income, but their retirement planning still falls way short of requirement.

The average 25-34 year old would like an annual income of £30,000 a year according to the BlackRock Global Investor Pulse survey, estimating that they will need £149,000 to achieve this. But their expectations are far too optimistic, falling almost £500,000 short.

Within the age group, it is young men who are most out of touch with retirement reality. The average 25-34 year old male would like a pension income of £32,000 and considers £168,500 to be sufficient to provide that. In fact, according to calculations by BlackRock they would need an extra £456,000.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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