Pension news: The richest 20 per cent of pensioners now have an average weekly income of £936 To get the same weekly income from personal pension savings today, a couple retiring at age 65 would need to have a pot worth £1,031,700.
But annuity rates were significantly higher 20 years ago and it would have cost just £568,000 then to buy that amount of guaranteed income.
And the chances of pensioners now emulating that deal are slim as employers have closed down most final salary (defined benefit) schemes as they are too costly.The figures were uncovered by pension specialists Aegon which […]
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