28 April 2010
Figures complied by MGM Advantage, suggest the average household
needs nearly £600,000 for the first 20 years of
retirement.
That would mean each pensioner needs an income more than double
the basic state pension to just cover everyday costs such as food,
petrol and clothing.
The annual expenditure is a third higher than five years ago,
with retiring workers having to deal with falling income from
pensions and rising costs.
