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The numbers game

By January 10, 2017February 12th, 2019No Comments

New Year is traditionally a time of reflection and the media often plays the numbers game which features an abundance of facts and figures to sum up the previous year.

Football is often associated with statistics and most match commentators include a few in every commentary. Similarly, in the world of pensions, there are a few key numbers that may strike a chord with you. So with the closure of the English Premier League’s transfer window approaching, let’s see if some of its numbers correlate with pension changes:


The % of foreign Premier League footballers (who can’t play for England)

67 will also be the State Pension age in 2028. Further increases in the State Pension age are almost inevitable: it would take a brave person to predict that a 30 year old today will be eligible in 2054.

On top of the rising State Pension age, the government has also ushered in a flat-rate State Pension, though a number of people will not get the £155 single-tier payment. With the likelihood of further State Pension changes, you may need to pre-empt this by making sure you are saving enough.


Is the number of times Sir Alex Ferguson won the Premier League manager of the year at Manchester United

11 is also the average number of jobs a person will have in their career; so many people will end up with several pensions across different employers and providers. The good news is they will still be there when you retire but knowing whether you need to step up your contributions is harder when there are several different pension pots. It can be beneficial to bring all your savings under one arrangement.


Fewest goals conceded in a season (Chelsea 2004-05 season)

It’s also the amount in thousands that NEST (National Employment Savings Trust) suggests is enough, on average, to fund a retirement. Which? suggests that someone who starts saving at 35 and retires at 68 would need to put in £215 a month to reach this target.  If you begin earlier, that number comes down.

Maybe only some of the issues raised here affect you but others may affect your friends or family. For further advice, please do not hesitate to contact your Cullen consultant.