The Autumn Statement announced a welcome increase in the state pension from April 2016, and any increase is beneficial. However, even with this increase people will need to ensure they review their retirement income savings plans - which for most people means their pension - as with the maximum of £6,203.60 annual pension from the State and average annual spend in retirement of £15,800 (ONS 2014) that leaves an income gap of over £9,500 per year that each of us will need to fund every year in retirement.

People should check their pension savings plan regularly in any event, but why not do it now and see whether your pension will give you that average.