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Fifth expect to retire on less than 10,000 a year

31 March 2010

According to a Prudential study, based on a survey of 1001 people over 45 years old, 18 per cent of people retiring in 2010 expect to receive less than £10,000 a year from their pensions and investments, as expected incomes drop for the third year running.

Retirees in 2010 expect to be £1,270 a year worse off then their 2009 counterparts, and £2,154 poorer than the 2008 group.

Average annual incomes for those retiring this year are £16,509 compared to £17,779 in 2009 and £18,663 in 2008.

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