Pension income below £1,000 for 40% in 2005-6

The figures show 61% of single female pensioners and 55% of single male pensioners had a private pension income of less than £1,000. Mike Jones, director of pension education website MyCompanyPension.co.uk, says: “This is a sad indictment of our ‘live for today, don’t worry about tomorrow’ society, led by successive Governments that have failed miserably in their tutorship of pension education and retirement guidance to the wider public. “In the short-term the low income level for pensioners is likely to be repeated, as contributions to pension arrangements are being reduced because of th...