Long road of retirement

As today's retirees are living longer than ever before the impact inflation can have on their retirement income needs to be considered. While inflation affects everyone pensioners are by far the worst affected. By and large today's workers can expect their wages to keep pace with inflation but what happens to the retiree who exists on a level unchanging income for many years? This month's Big Question (pages 31-33) attempts to tackle this question with Winterthur's Mike Morrison highlighting that even a relatively low inflation rate of 3% will reduce the purchasing power of a level inco...