Accounting services in Manchester can help residents of the north-west to close the gap between their expected retirement income, and the amount they are actually likely to receive.
Friends Life have compiled what they claim is the first ‘retirement savings map’ of the UK, showing how wide that pensions gap is in each region.
Across the country as a whole, people expect an average retirement income of £409.10 per week, but the actual payout is around £312.40.
That’s a shortfall of £96.69 per week – and while the north west performs better, there is still a gap to close in the region.
Expected weekly retirement incomes average £392.42, but the actual figure in the north-west is £295.85 – £96.58 less.
And in Manchester specifically, the shortfall is £88.35, with expected income of £368.87 and actual income of £280.52.
Clearly it is good news that expectations in the city are closer to reality than the national average – although actual retirement incomes are lower than elsewhere.
Whether you want to boost your pension pot, or simply work out a more accurate expectation of your retirement income, our accounting services in Manchester can help you to understand your current finances better.