Pension boost of £1,000 per year for workers under new plans from Chancellor
A TYPICAL earner’s pension pot could increase by more than £1,000 a year under radical new plans, the Chancellor has announced.Jeremy Hunt tonight announced new plans which could boost pension pots for BritsThe changes will increase the typical earner's pension pot by 12 per cent bringing a total boost by as much as £16,000 for those who save over the course of their career.
Leading pension firms will also commit to allocating 5 per cent of their assets into unlisted equities by the end of the decade. It comes as analysis shows that over a five-year period a saver with a pot of £10,000 could have lost £5,000 with a poor-performing scheme.
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