Average pension income £8,774: Poll

Press Association
close up of elderly male hands on wooden table
close up of elderly male hands on wooden table

The average annual income drops by two-thirds upon retirement and the average person retires with an annual income almost a quarter less than the minimum wage, according to a major financial provider.

In its annual State of Retirement report, LV also highlights that a fifth of women have no pensions savings within five years of retirement and will rely solely on the state pension.

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