Retirement income £5,000 less than worker average

The research shows people retiring this year will have an income of £18,663 while men expect to retire on an average annual income of £20,790. Women expect an income of just £11,291. A total of 46% of those planning to retire in 2008 believe their pension and savings would provide sufficient income to enjoy a comfortable lifestyle, while 36% disagree and 18% do not know. Gary Shaughnessy, managing director of retail life and pensions at Prudential, says: “It is absolutely critical that people seek professional independent financial advice when planning retirement, and the fact that jus...