The wealth divide between pensions is currently growing and those born as Britain’s baby boomers have been labelled as ‘the richest generation in history’. Wealthy retirees are expecting to receive an average weekly income of almost £1,000. The government figures suggest that for the wealthiest, income has grown the fastest it has ever done over the past ten years. For the poorest pensions the contrast is quite striking, as the average weekly income has increased only by 15% over the last decade meaning average weekly income has changed from £858 to £988. Seeking professional financial advice could help you to manage your retirement finances more effectively.
