Skip navigation
Setting a targetTaking Control

Staying on track

Saving for your future is probably the biggest thing you will save for, so it is good to have an idea of how much you will need.

How much will you need?

Do you know how much you will need to live on when you retire? When thinking about your target income in retirement, you need to think about where you will be living, what your outgoings will be and how you want to spend your time.

What you can do

  • Work out your outgoings now

  • Think about how your spending might change when you are no longer working. For example, you might have paid off your mortgage, but you might want to spend more on holidays than you do now.

  • Adjust the value of your current outgoings to account for the way your spending will change in retirement.

This will give you a target income to aim for.

Small Change, Big Savings calculator

Thinking about contributing more but not sure you can afford it? Use our Small Change, Big Savings calculator below to see how much you could add to your retirement savings by spending less. Select how many of each item below you could give up to see how this could add up.

Make a difference to your future

What now?

If you’re already a member of the IMI Pension Plan, you can increase your contributions to help you reach your retirement saving target.

If you’re not a member of the IMI Pension Plan, these savings could free up enough money to join. Don’t forget that IMI will also contribute, so your actual pension saving would be much higher than your contributions alone.

Even small contributions can really build up over time.

How to join

Complete a Joining Form and return it to your HR department.

Changing your contributions

It is easy to change how much you pay into your account. Just get in touch with your local HR Contact and let them know what you would like to do.

The change will take effect from the date of the next payroll.

This site uses cookies to deliver its services.

Read more Close