Pensions drop by half since 1997 according to new survey

Personal pension returns have dropped by half over the past six years, reveals Investment, Life & Pensions Moneyfacts in their latest pension survey. A person retiring today would, according to the survey, only receive 51% of what a person, who would have saved exactly the same amount and during the same period of time, would have obtained six years ago. A 65 year old man retiring in January 1997 would, after have been making contribution to a personal pension for 15 years, have had on average a total of £24,617 in his with profits pension fund or have a unit-linked fund worth...