09 June 2010
According to research by pensions specialist Partnership, nearly
eight in ten retirees face a bleak future in retirement because
they are set to receive an annual pension income of just
£8,000.
The survey also showed that nine in ten people retiring over the
past five years have done so with pension savings of less than
£50,000, with seventy seven percent having less than
£30,000.
Partnership calculated that using current pension rates, a
£30,000 fund would buy an annual pension of £2,000
which combined with a state pension of £6,000, would provide
total annual income of £8,000.
