Millions could see pensions halved ; Devastating cost of being kicked out of final salary schemes
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Summary
WORKERS kicked out of final salary pension schemes could see their retirement incomes halved, a Money Mail investigation reveals.
The results emphasise the bleak future facing millions of Britons who may never be able to afford to retire.See the full content of this document
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Millions could see pensions halved ; Devastating cost of being kicked out of final salary schemes
We asked insurer Standard Life to compare the benefits provided by traditional final salary pensions with those offered by alternatives. None come close to providing a similar level of income, even to the most dedicated saver.
A graduate starting on a salary of Pounds 20,000 a year and retiring on Pounds 50,000 a year aged 65 can expect a pension of Pounds 23,888 a year plus a taxfree lump sum of Pounds 179,166 in a typical f...See the full content of this document
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