A study by Standard Life reveals that working from home for three days a week can reduce annual commuting costs by up to £2,000, thereby enhancing pension savings significantly. For example, a person starting their full-time career with a £25,000 salary could see their retirement fund increase from £210,000 to £370,000 if they invest their commuting savings. Standard Life's analysis shows notable regional differences in potential savings, highlighting the financial benefits of flexible working arrangements since the pandemic.
Since the pandemic, flexible working options have given workers a number of opportunities, including the ability to save on their commuting costs.
Our calculations highlight how working from home for even one day a week could make a huge difference to your eventual pension pot if you were to pass those savings on.
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