Retirement income shortfall set to balloon, says study
Thursday 26 Apr 2018 Author: Steven Frazer

The UK is facing a mammoth pensions funding gap that could balloon to $33tn by 2050, up from an estimated $8tn shortfall in 2015.

This is one of the many forecasts made by the World Economic Forum (WEF).

The research anticipates that around a third of average retirement income will come from workplace pension schemes, with another
quarter from individual savings and investments. But that still implies 42% of retirement income coming from state pensions.

‘The anticipated increase in longevity and resulting ageing populations is the financial equivalent of climate change,’ says Michael Drexler of the WEF.

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