REUTERS UK: Almost two-thirds of people living in Britain today are likely to see a 60 percent drop in their income when they retire over the next 40 years and a plummeting quality of life, a report said Thursday.
The 15 million households earn between 18,000 and 44,000 pounds each and represent roughly 35 million people, according to the study by London's Chatham House think-tank.
Their incomes will take the biggest hit from retirement compared to the lowest and highest 20 percent of earners.
"The UK has a distinct problem with middle-income earners who are failing to save enough and are likely to find the drop in income during retirement unexpected and unacceptable," said Paola Subacchi, one of the report's authors. >>> Reporting by Olesya Dmitracova; Editing by Steve Addison | London | Thursday, March 10, 2011
