These products are inflation linked, but it may be a harder task to replicate the maximum annual income from the state pension.
Mr Monk stated it would take a savings pot of £337,000 based on a healthy 65-year-old making this purchase.
For this reason, the expert added, it will be essential for Britons to ensure they are entitled to the maximum state pension sum possible.
The new state pension is based on a National Insurance record once a person reaches state pension age.
Published at Wed, 01 Dec 2021 15:53:00 +0000