Retirement incomes hit six year low - Prudential

The survey reveals average retirement income estimates have dropped by more than 18% since 2008 to £15,300. Incomes have also fallen in four of the past five years. In 2008 retirees looked forward to a total average annual income, including private, company and state pensions, of about £18,700 - £3,400 a year more than those planning to retire this year. Retirees in 2012 could expect an average income of £15,500. Prudential has said the fall in incomes is even higher due to rises in living costs. Since 2008, inflation has caused prices to rise by 14.7%. A 2012 retiree would need...