Overview
- Customers at Lloyds Bank, Halifax and Bank of Scotland can use Save the Change, while Nationwide offers a similar round-up feature, both set up via mobile apps or online banking.
- Each purchase is rounded up to the nearest pound and the difference is moved into savings, such as 20p from a £2.80 transaction.
- Standard Life’s Mike Ambery recommends scheduling transfers on payday so money moves into savings before it can be spent.
- He also advises separating goals into distinct pots for needs like holidays, Christmas and emergencies to keep priorities clear.
- AI-based tools that skim small, affordable amounts were suggested as a supplement, with a reminder to monitor performance and not rely on them to be perfect; the firm’s Retirement Voice 2025 notes Gen Z hopes to retire at 60 and models a £210,000 pot by 68 for a £25,000 earner contributing 8% with 2% inflation.