1. The PPI is very grateful to Prudential UK, JP Morgan Asset Management, The Department for Work and Pensions, The Association of British Insurers, The Investment Management Association and Age Concern and Help the Aged for financial support for this project. Sponsorship was given to help fund the research, and does not necessarily imply agreement with, or support for, the analysis or findings from the project. The four reports in the series can be downloaded from the PPI website www.pensionspolicyinstitute.org.uk .
2. Based on Guarantee Credit 2009 rates, Joseph Rowntree Foundation (JRF) (2009) A Minimum Income Standard for Britain in 2009 www.minimumincomestandard.org and Office for National Statistics (ONS) Department for Work and Pensions (DWP) (2009) Households below Average Income. An Analysis of the Income Distribution 1994/95–2007/08 www.dwp.gov.uk .
3. Before housing costs.
4. Calculations based on Pensions Commission (2004) Pensions: Challenges and Choices: The First Report of the Pensions Commission TSO.
5. Pensions Commission (2004) Pensions: Challenges and Choices: The First Report of the Pensions Commission TSO.