30 May 2008
A report from Fidelity International has suggested that the
average British household will see its income drop by 53% on
retirement, with the resulting pension lower than the minimum
wage.
One of the key areas highlighted by the report was the
significant gulf in fortunes between those in final salary schemes
and those in money purchase plans.
Workers on average pay who have money purchase plans are set to
retire on only 38% of current salary - less than £174 per
week.
