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Saving for retirement—when perseverance pays

As people live longer, so the goal of pension saving must change

By Paul Wallace   April 2020

PA Archive/PA Images

Gordon Brown used to talk about “prudence with a purpose.” It’s not a bad definition of pension saving. Achieving that purpose—a decent retirement income—has long been an uphill struggle outside the old cocoon of final salary schemes. However good returns from investments have been, falling annuity rates have made it ever harder to secure worthwhile income from contributions made into pension pots. This is a quest where perseverance is essential.

The case for regular pension saving…

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