High earner to poor pensioner?

The Daily Telegraph reports research by the Department of Work and Pensions showing that up to 400,000 high earners (defined as earning over £35,000 a year) could end up among the poorest 20% of pensioners.

This surprising projection is the result of ‘under-savings’ by up to half of all workers, which the DWP says could result in hundreds of thousands of people having inadequate retirement incomes. The remedy is, of course, to increase annual savings towards retirement.