NO ONE HAS IT HARDER THAN THEIR FATHER DID:

Britain's retiring workers have never had it so good, according to an analysis by the Institute of Fiscal Studies which shows that the vast majority of couples born in the 1940s are maintaining their former living standards into retirement - and nearly a half enjoy a greater income in retirement than average real earnings.

The IFS research looked at the income and wealth of couples at retirement compared with their average earnings when they were 20- to 50-years-old. It found that 80% of couples born in the 1940s had an income at age 65 from both state and private pensions that was equal to two-thirds of their average working-life earnings, and that 40% enjoyed incomes higher than their average real working-life earnings.

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