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09-May-08 11:30 [Pensions]
Pension fund fears A new report has found that two-thirds of people fear that they will not have sufficient funds in their pensions to live on in retirement.
The State of Retirement report from the Liverpool Victoria Friendly Society, found that the cost of food and utility bills were what most respondents were concerned about, the Mirror reports.
Around 25 per cent of the respondents revealed that they are not saving anything, while four out of ten people admitted to not putting more money away to ease their own concerns.
The report asked over-50s how much money they felt they would need to survive in retirement, with the majority claiming that they will need a minimum of £386 a week to live but do not expect to have more than £325 available, the paper claims.
Recent figures from the Office for National Statistics showed that, in 2005, 62 per cent of pensioner couples survived on an income of less than £10,000, while half of single retirees received less than £6,000 from their pensions.
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