Sam Smith, 49, believes he is on track to have £1m in pensions by the time he retires. The father of one would like to retire before he is eligible to receive a state pension but is not certain this will happen.
Sam has had multiple jobs over the years and has had many pension pots, which he has now combined into one £200,000 pot.
He started his career as a graphic designer at a financial institution, earning £16,000 a year. Sam said the small sum he had in a pension with the institution was refunded to him in cash when he left to start a new career. “I hadn’t contributed for long enough to mandate it being stored as a pension”, Sam told The i Paper.
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After spending nights and weekends learning new skills, Sam switched careers to become a software engineer in 2001.
