Pension savers 'need £35,000 extra'

A man approaching retirement needs to have a pension pot almost £35,000 bigger than he would have done four years ago to achieve an income of £5,000 a year, a report shows.

The Office for National Statistics (ONS) found that a single 65-year-old man has seen the level of savings he would need shoot up from around £118,000 in 2009 to £152,800 by March 2013.
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