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Rathbone Too poor to retire Investment Report 2018

Too poor to retire

Why younger generations will have to
work more, save more or spend less

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The savings shortfall

Numerous studies have predicted a
large retirement ‘savings gap’ — the
shortfall in current or projected pension
provisioning from a benchmark level of
retirement income. The figure of 70% of
pre-retirement income has become the
heuristic benchmark, often termed a 70%
‘replacement rate’. Though sometimes
criticised for arbitrariness, it is actually
supported by the economic and social
science literature since the 1960s
(Modigliani 1966).

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