UK. Nearly one in seven workers retiring this year have made no financial provisions, study reveals
Nearly one in seven people retiring this year have made no financial provision for their retirement, and more than one in ten will be either totally or partially dependent on the state pension when they stop working, according to new research.
The analysis, published by life insurance company Prudential on Wednesday, shows that thousands will enter into retirement this year with an income that is up to £1,400 a year below the Joseph Rowntree Foundation’s minimum income standard for a single pensioner.
That standard, set at £186.77 a week, is established by the Foundation – a social policy research and development charity – as a benchmark of the income required to support an acceptable standard of living in the UK.
Full Content: Independent
