More than a third of UK pensioners - that's 3.75 million – say they can't afford to do what they thought they'd be able to in retirement. The research by Prudential found that the over-55s say that an extra £7,300 a year is the 'magic sum' to make the difference to their retirement.
Unexpected costs affect almost half of today's pensioners. Children and grandchildren are the most common reason for people having to pay out money they didn't expect to (more than 4 in 10 said this). Second most common was home improvements and maintenance (over 3 in 10), followed by medical bills (2 in 10).
