When you retire, you'll probably have more outlays, such as for travel, hobbies, medical expenses and so on. At the same time, several sources of income will dry up. Moreover, the pension system is coming under pressure due to an ageing population. So, it's even more important that you put some money aside so that you can enjoy a care-free retirement.
But what is the ideal amount to put aside? That depends on your
pension gap. This is the difference between the pension you'd
like to have and the amount you actually receive.