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<p>The impact of these changes has been independently assessed by the Government Actuary's Department (GAD).</p><p>They calculate that a typical 22-year-old currently earning average weekly earnings and investing the equivalent of 10% of gross income each year over a 45 year period would see a fund value £11,200 greater at retirement as a result of these changes.</p><p>This is equivalent to approximately a 1.3% uplift in their total fund at retirement. In current money terms that is equivalent to an additional £4,600.</p> |