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

Class of 2021

Jenna Brown
clock • 3 min read

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 pension pots, and adding in expected state pension income, analysis showed that two-thirds (66%) run the risk of running their pots dry if they spend the full £21,000 a year. The average value of a Class of 2021 pension pot was £366,000 - but a third (33%) said they had pots below £100,000 saved. Some 2,000 people were surveyed for the study in February this year. Standard Life Aberdeen ...

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