Retirees cannot rely on pensions alone

Analysis from the Institute for Fiscal Studies said the majority of people currently aged between 50 and the state pension age will have a replacement rate of less than 80% - meaning their income will drop by 20% when looking at pension income. It also said more than 40% will have a replacement rate less than two thirds. Meaning their income will drop by at least a third. The study added when other sources of income are factored in - including savings, expected inheritances, pension credit and the return owner-occupiers get from their homes - retirement replacement rates are not as ba...