Paltry returns on 'safe' investments such as cash and gilts have caused three out of five retirees lose out on around £2,400-a-year in real terms as inflation eats into the income they use to supplement their pensions.
Investec Wealth & Investment estimates that two-thirds of retired people who rely on savings and investments to fund their retirement have suffered a fall in their income over the past two years, the Daily Mail reports. Depositing nest eggs in cash Isas, savings accounts and premium bonds have come back to haunt many pensioners as below-inflation returns have seen the value of their savings eroded in real terms by £2,400 on average. Investec's Rowena Houston said: 'This research underlines the importance that savings and investments play in supplementing retirement income. 'The las...
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