nick venedi

Saturday 30 October 2010

300 billion pensions gap

A study conducted by the insurance company Aviva and professional services firm Deloitte, has shown that UK adult workers would need to put away an average of £10,300 every year in order to close what they say is a 300 + billion gap.

The pensions gap is defined as the difference between the income needed to live comfortably in retirement and the actual income that individuals can currently expect to receive.

The figures and the stats on which the survey is conducted is based on the assumption that the UK gap of £10,300 per person per year is an average based on the 31 million UK adults who are due to retire between 2011 and 2051. The interesting thing about this study is that it quntifies the gap and it puts the figure for the shortfall at £318 billion annually. So more bad news for all of us then...

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