Survey of over-50s finds £55,000 a year to be ideal annual income from age 65 onwards, however the average pension pot is only £50,000 in total
Research by low-cost life insurance provider FiftyLife, which surveyed 2,000 over-50s on their future plans, has revealed that elderly Britons can be expected to need over a million pounds (£1,167,300) for a comfortable retirement - a figure that, when combined with the full state pension, would equate to over £55,000 a year from the age of 65. However with the average pension pot totalling at £50,000 - enough to produce an average annual income of just £2,500 for someone retiring at 65 - plus...
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