An expert has lifted the lid on the amount need to have saved in your pension pot by the time you reach 50. Although it is never too late to plan for your retirement, it is easier to start when you get your first job, according to financial advisors.

Daniel Wiltshire, an actuary and independent financial advisor at Wiltshire Wealth, told Express.co.uk there are a range of factors to consider when deciding on the right amount.

He said: “An approximate rule of thumb is that by age 50 you should…