People planning to retire this year can expect to live off a record average annual income of £19,900 - a tenth (10%) more than those who retired in 2017 - research from Prudential has found.
The figure stood at its highest level since the insurer began its ‘Class of…' survey in 2008 and is the fifth consecutive year of rising retirement incomes. According to Prudential, this year's retirees - the Class of 2018 - could expect an income 10% higher than those who gave up work in 2017, whose average expected annual retirement income was £18,100. The Pru found expected retirement incomes had risen consistently since 2013 when they were at a low of £15,300. This year's findings saw the average annual income surpass pre-financial crisis levels to be £1,200 higher than the £18,...
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