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15-Apr-08 10:15 [Research]
Pensioners' incomes fall as savings decrease Almost two-thirds of married pensioners have a combined income of less than £10,000, according to a new report.
Figures from the Office of National Statistics (ONS) have also revealed that half of all single pensioners are living off less than £6,000 a year and the figure could get worse as the number of people saving into a pensions scheme decreases.
Joe Harris, the general secretary of the National Pensioners Convention, said: "For years, successive governments told us it was OK to keep the state pension low because private company pension schemes would ensure that everyone had a comfortable income in retirement. But these figures prove that was a myth".
In 2005-06, only 39 per cent of people who were at a working age were paying into a private pensions scheme, meaning the problem could worsen.
Around two-thirds of retired people in the UK do have a private pension but for many of them the income they get from it stands at less than £1,000 a year.
Earlier this month research from Prudential revealed that the amount people in the UK were contributing to their pensions scheme has halved over the last 12 months.
It has been understood through research that the amount of pension scheme buy-outs by specialists is expected to double within the space of four months, it has been reported.
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Over 3.3 million workers in the UK are not confident that they will still be in their job in a year's time, a recent YouGov poll has discovered.
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Government changes to pension legislation will provide more help to divorcees, especially females, it has emerged.
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