A recent survey conducted by Prudential revealed that nearly one in five Britons who are intending to retire this year would do so while still being in debt.
Alarming figures have been released which show that pensioners are over Â£14,000 worse off than someone three years ago. Significantly, the decline and downfalls pensions are suffering have not yet past and those who are due to retire shortly, could receive an even smaller pension.
Recent data from Prudential has shown that retirees, who hope to obtain the Â£144 per week state pension with an annuity purchase today, would require a pension fund of Â£130,000.
Recent research has revealed that 45% of retirees have a reduced standard of living due to the amount their pension pot is worth or the lack of savings they have built up.
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