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