You should consider issues such as additional costs such as health insurance and other benefits that may currently be paid by your employer. Even a generous pension is unlikely to provide more than two thirds of your employment income before retirement, and this will reduce your purchasing power. Drawing up such a document will alert you to potential income deficits on retirement. This will provide more time to make additional premium payments to increase your retirement benefits. The retirement age has fallen significantly over the last fifteen years.
People now have more leisure time and live longer.
This puts additional financial pressures on those considering retirement. The earlier you plan to retire, the earlier you must start a pension to accumulate an adequate retirement fund. For this reason it is best to adopt a conservative view of estimating your age of retirement, and save accordingly. Government pensions are secure but there is no guarantee that the state will be able to provide adequate pensions to an ageing population. As inflation is the biggest destroyers of the value of pensions, it is necessary to invest in inflation proof assets.