GRAHAM HISCOTT

a comfortable retirement, according to the Pensions Commission.

Auto-enrolment contributions aren’t enough to ensure an adequate savings pot and they’re not calculated on full earnings – kicking in at £6,032. In spring, those contributions will rise to 8% (5% worker, 3% boss) – but qualifying earnings levels also rise to £6,136.

So if you earn £24.5k you’ll have Oil = $61.55 total annual pension contributions of £1,469.76 from April, compared to £1,960.64 if based on full earnings.

It makes the difference between a potential £76,299.86 pot and £101,783.

So don’t just stick to minimum contributions. Some firms will match what you put in up to a maximum percentage. Save the most you can afford to build a decent pension.

Struggling Debenhams is set to announce progress in talks with its lenders as early as today. It is believed the update won’t include related plans to close stores as part of a Company Voluntary Arrangement, for now at least.The start of the talks prompted a backlash from tycoon Mike Ashley, whose Sports Direct is Debenhams’ biggest shareholder.That led to the chain’s boss Sergio Bucher being booted off the board and chairman Sir Ian Cheshire quitting. BOOST Progress in clothes chain talks