Many 'overestimatevalue of pensions'

Many wealthy consumers are heading for a disappointing retirement, with more than two-thirds over-estimating how much their pension will be worth, research indicated.

Around 69 per cent consumers with pension savings of between 100,000 and 500,000 expect their pension fund to convert into a far higher retirement income than is likely to be the case, says financial services firm Sun Life Financial of Canada.

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