Martin Lewis and his team of pension experts urged Brits “don’t panic” if they’ve left their retirement planning to the last minute, detailing some strategies they can use in their last few years of work
In a pension-focused episode of his titular BBC podcast, Martin Lewis received one question from a listener, Laura, who desperately queried what to do “if you’re 45 and have no pension”. Charlotte Jackson, head of guidance at the Money and Pensions Service, instantly chimed in saying: “Don’t panic, you’re never too old to start looking at pension but there’s a wider set of things you want to consider.
Wrapping up her advice in a nutshell, Charlotte urged “the more you can save the better” particularly when starting later in life but added that putting away a “little and often” is a very sustainable approach while reiterating: “It’s never too late.” “Let’s imagine you are putting in £100 a month of your income as a basic minimum, your employer would need to add £60 on top. You’re putting in £100, you’re getting £160 in your pension.
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