Pensioners will still lose 50% of income

Following the publication of the white paper: 'Security in Retirement' which included a series of proposals, such as a higher basic state pension through the re-linking to earnings and a raise in the state pension age, Fidelity recalculated the data it had collected for it’s Retirement Indices published last month. In the original Fidelity Retirement Index published last month, it revealed current saving trends and pension entitlements would see workers retiring on an income which made up just 42% of the salary they were earning before they retired. For a person earning the average incom...