Let's Talk Money: Three important numbers to consider when saving for the future

Hi, I'm Natalie Davison, Head of Advice and Guidance Operations at Standard Life.

That means I look after teams that support our customers every day.

Customers often ask us, "What should I think about when saving for the future?"

I'm going to break this question down by looking at some of the numbers you might want to keep in mind.

To start with, have a think about the number of pension plans you have.

It is common to have multiple because you'll usually get a new one each time you change employers.

If you're not sure where your old plans are, you can check either past paperwork, contact your old employer, or visit the government's website, GOV.UK, to see how you can find old or lost pensions.

Another number to think about is the amount of money you might need in the future.

The Pensions and Lifetime Savings Association tells you how much you could need for a minimum, moderate or comfortable lifestyle, and what a range of everyday items and services would cost at each level in retirement.

Have a look at the value of your pension savings. You can usually check what your pension plan is worth through your provider's app or your online account. Then you can use a pension calculator to see how much you might have in the future. You can find a great calculator on the government-backed website MoneyHelper.

It is also worth considering how much money you might get from other sources. For example, are you on track to get the full State Pension? You can check this by visiting GOV.UK.

Or do you have money elsewhere, like in an ISA, a savings account or property, that could be used to help fund your retirement?

So there you go, that's just some key numbers to think about as you plan and save for the future.