Despite an increase in private pension funds over recent years, a pension provider has said that many pensioners are not necessarily better off.
Stakeholder pension income has increased over the past 25 years, with the strongest period of growth being the last five years.
However, Anthony Frost from Prudential believes that a significant number of pensions have not gone up "in real terms".
He said: "Pensioners may have more money than before but it doesn't mean that they have a better life.
"Many pensioners need an additional £3,000 or £4,000 to their income."
The government is set to make a statement on its plans for future pension reform in the new few months, as there has been great concern over the lack of money in stakeholder pension funds.
Warning over pension figures
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Warning over pension figures
Tue, 18 Apr 2006
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