We're living longer. This is hardly a revelation, but it does mean it's more important than ever to start thinking about how you will cover the cost of those years when you're no longer working.
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See also: Should you defer your state pension? Will you be better off?
So here are six reasons why you need to start saving money into your pension pot now, if you haven't already.
We're living longer
In 2001, British men were expected to live to 79 and women to nearly 83. Today men are living into their early 80s and women to around 85.
While we're not at South Korean levels yet, where women can now expect to live to the other side of 90, we still need to plan for a longer retirement.
That means longer retirements
People living longer may be good news, but it means thinking more about how we will pay for our retirement is more important than ever. The current retirement age is 65 (rising to 66 in 2018), which means we need to be able to pay for at least 20 years of life-after-work.
Will the State Pension be enough?
What about the State Pension, you might ask? Yes, as long as you have 35 years of National Insurance contributions, you are entitled to the full State Pension.
But this probably won't be enough to see you through retirement. Currently, the State Pension is £155.65 a week, or £8,093.80 a year.
Take advantage of workplace pensions
The good news is there are some great ways to start saving for your retirement, most notably the workplace pension.
You pay into your company's pension scheme, your employer adds a bit more, plus you get tax relief on top of it. This means you could see your pension fund increase quite rapidly.
Using the pension freedoms
Once you hit retirement age, you can access your pension pot more flexibly than ever before.
But of course, you can only really take advantage of this and properly fund your golden years if you have saved enough to begin with.
Advantages of starting early
You might not want to start thinking about paying into a pension when you're in your 20s, but if you do, paying for your retirement will be a lot easier.
To have an income of £20,000 a year in retirement, you would need to put aside roughly £250 a month from the age of 25. Wait until you're 35, and this figure goes up to a little more than £400 a month, according to research by Guided Outcomes and Hymans Robertson.
This article is provided by the Money Advice Service.