Falling short - The trouble with pensions.

From: The Economist (US) | Date: June 14, 2008 | Copyright information

Workers are sleepwalking towards an impoverished old age

MORE and more people are speculating on their retirement income, even though they may not know it. According to Watson Wyatt, an actuarial consultancy, the amount of money that is saved in defined-contribution (or money-purchase) schemes worldwide will overtake the amount of money in defined-benefit (or final-salary) schemes by 2014--see chart 1.

For a lot of people, this is going to be a problem. In a ...

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