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A third of pensioners worry about cash flow

Around a third of Brits are concerned that they will not have enough money to live on when they are pensioners, according to a new report.

The figures are the result of a poll by Which? Money, which also revealed that there is a worrying £12,000 a year discrepancy in the amount people want to retire on and the amount that the basic state pension will provide.

People expect to be able to retire comfortably on £312 a week, yet the basic state pension provides just £84.25.

Martyn Hocking, the editor of Which? Money, commented: "It is worrying that one in three people aren’t sure they’ll have enough to live on when they get older."

"The basic rule is that you should start saving for your retirement as early as you can - the longer you leave it, the more you will need to save."

The study also revealed that just 12 per cent of us are very confident that we will be able to enjoy a comfortable retirement.

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31/01/2007 16:36:41

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