premise: To enjoy a comfortable retirement, many retired people recommend retiring on two- thirds of final salary and around 4 million workers have paid into pension schemes for the bulk of their working lives in order to realize this goal. Those who have contributed to a final salary pension scheme will reach that standard and in fact exceed it when the persons state pension is added to the equation. Those workers who have contributed to a pension scheme that lacks the final salary guarantee and instead depend on the investment value of their total contributions to purchase their pension on retirement are less fortunate. Even when their state pension is included the bulk of these people will retire on an income of around 40 per cent of their final salary. As for the remaining 11 million workers who have made little or no contri- bution to any other pension scheme than the compulsory state scheme, it is feared that they will find themselves dependent on means-tested benefits.
hypothesis: Four million workers will reach or exceed the standard where they retire on two-thirds of the final salary.