Pensioners could exhaust their retirement savings by age 75 if they withdraw an annual £3,000 from an above-average sized pot, according to research.
The £29,000 sum would run dry by 74 if the withdrawal increased with the annual rate of inflation, assuming the worker retired at 65 and the rest of their savings matured at a rate of 3% per year, ...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date