Two-thirds of retirees risk running pension pots dry - Standard Life Aberdeen

Class of 2021

Jenna Brown
clock • 2 min read
"Pension pots are without a doubt the most popular option for funding retirement, but it's so important that retirees consider any other savings or assets they can use when deciding whether they can afford to retire or not." - John Tait
Image:

"Pension pots are without a doubt the most popular option for funding retirement, but it's so important that retirees consider any other savings or assets they can use when deciding whether they can afford to retire or not." - John Tait

Two-thirds of people set to retire this year run the risk of not having enough pension savings to sustain their desired level of income, according to a report from Standard Life Aberdeen.

The provider's Class of 2021 report found retirees plan to spend an average £21,000 a year, which is about £10,000 below the average UK household income of £29,000. However, when assessing their...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Latest pensions dashboard consultation 'missing the point' - Steve Webb

Latest pensions dashboard consultation 'missing the point'

Schemes given 90 days notice

Jenna Brown
clock 28 June 2022 • 4 min read
Joshua Croft: Pension scheme member compensation explained

Joshua Croft: Pension scheme member compensation explained

Compensation complication

Joshua Croft
clock 27 June 2022 • 3 min read
Transfer values continue to fall in May - XPS

Transfer values continue to fall in May - XPS

Lowest since June 2016

clock 27 June 2022 • 2 min read