News

Millions Face Poverty In Retirement - Daily Mail May 06

Millions of people relying on defined contribution pensions schemes face poverty in retirement unless urgent action is taken to improve their schemes, investment ,anager Fidelity International warned yesterday.

Fidelity predicted that workers with defined benefit plans could expect to retireon just 38 per cent of their final earnings, even when the state pension is taken into account, giving them only marginally more than a person earning the minimum wage.