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Your essential guide to saving for retirement

Important Information: The value of investments can go down as well as up so you may get back less than you invest.

People are living longer and are more active in retirement.  So that means there's a longer retirement to plan for.

Did you know a single person will need about £43,1001 a year for a comfortable retirement? With the State Pension paying a maximum of £11,502.40 per year, there’s clearly a gap.

Taking control of your retirement savings is therefore crucial and it’s important to make the time to consider how to balance our needs of today with our needs and desires for the future.

You may be asking yourself:

  • How much do I need to save for my retirement?
  • How much do I need to save each year?
  • How can I retire early?

Our Guide to Saving for Retirement provides you with all the essential information you need to help you be better prepared for the future you want.

Source: 1Pensions and Lifetime Savings Association - UK Retirement Living Standards in 2023

Important information - Eligibility to invest in a SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. You cannot normally access money in a SIPP until age 55 (57 from 2028). This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity's advisers or an authorised financial adviser of your choice.

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