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Impoverished retirement for millions of UK pensioners

(22/06/2010)

According to new figures from Partnership millions of pensioners will have to live on less than £10k per year – and the pensions' giants are not helping, warns specialist provider. Key findings: 1. 89 % of all personal pension funds are under £50k 2. 77% of all annuity transactions for sub-£30k funds 3. 23% of pensioners face abject poverty according to Partnership 4. Just 10% taking advantage of enhanced option 5. Majority of people st... [more]

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