Pensioners expect £2.9bn income shortfall in 2009

According to the Prudential Class of 2009 retirement survey, three million UK workers intending to draw their pensions in 2009 expect an average income of £17,779 a year, about £884 less than would-be pensioners in the previous year. Those retiring in 2008 anticipated drawing an average annual income of £18,663. For most, retiring will mean taking a £7,129 cut in income compared with the national average salary of £24,908. However, some believe they could be considerably worse off. The survey, which was answered online by 1,000 people aged over 45 also found 11% of those planning to r...