According to Fidelity International, the rate at which we dip into savings will determine how long they will last, and at the rate of 10per cent each year, they may not last until we die.
Fidelity has warned that unless we plan sensibly for our pension income, many of us could find that the savings have run out.
Our view
This is the same warning that we have seen many, many times. People know they need to save and most save in property rather then pension. The problem is that we have no understanding of how long it takes to build up a decent fund, 10 years of saving from age 50 is just not enough.