Pensions: Now for the good news

24th May 2011

Research by Investment Life & Pensions Moneyfacts revealed that average retirement incomes have increased steadily since the start of 2011.

The increase in retirement incomes comes on the back of a combination of improving personal pension fund performance and higher pension annuity rates.

Moneyfacts notes that in terms of performance, pension funds have posted average returns of 13.83% in 2010, a second successive year of double digit growth.

According to its survey someone who had paid £100 gross per month into a Mixed Investment 40%-85% Shares pension fund for 20 years would have built up a pension fund of £41,964 if they retired now, compared with just £40,343 in December 2010.

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