Research conducted by Prudential has revealed that British people retiring in 2010 are expecting to be worse off than those who left work in 2009 and in 2008. 2010 retirees are anticipating an average income of £16,509 per year. In 2009, this average was £17,759 and in 2008 it was £18,663 showing decreases of 7% …
Highest Rate of Inflation for 50-64 year olds Continues
Whilst the overall rate of inflation fell this month from 3.5% to 3%, figures just published by Alliance Trust Research Centre show the 50-64 year old age group continues to be hit by the highest rate of inflation — 4.5% – for the fifth month in a row. …
‘Ticking Time Bomb’ for Widows’ Pensions
Each year, just under 300,000 male pensioners are unwittingly denying their wives a comfortable retirement when they die because they are not taking the right advice when purchasing an annuity with their pension savings. Labelled a ‘ticking time bomb’ by leading pensions campaigner Dr Ros Altmann, the shocking revelation could leave thousands of widows in …
Raw Deal for Older Taxpayers?
A report by Parliament’s Public Accounts Committee into the way that older people, especially pensioners, are taxed has worryingly shown they could be on the receiving end of a very raw deal. Constituting 18% of taxpayers, older people are more likely to abide by tax rules but are less likely to understand them, which means …
Equity Release is Key Source of Retirement Funding say Politicians
A key source of retirement funding could come from Equity Release says a well known All Party Parliamentary Group. The group, led by Baroness Hollis of Heigham, suggested that the Government should provide better support to an industry that could offer a solution to the financial issues caused by a progressively ageing population. With additional …
Pensioners to Sell Home or Release Equity to Pay for Care
The future role of equity release as a possible means of funding social care for pensioners has been welcomed by trade body Equity Release Council (formerly Safe Home Income Plans, SHIP) in response to recent Lib Dem research. Interrogating Conservative plans for a residential social care scheme that would cost pensioners £8,000, the Liberal Democrats have …
Ex-Pats Migrating back to UK
More than two thirds of Brits who headed off to Europe for a life in the sun are returning to the UK. UK foreign exchange experts Moneycorp have recently reported that 70% of Brits who moved to mainland Europe are now considering coming home because as the value of the Pound has plunged, so has …
Women’s Pensions Falling Short of Male Counterparts
A recent Prudential survey says that women retiring this year will be living on an average pension of £234 a week, which falls two-thirds short of that of their male counterparts. This figure has dropped by 11% on that produced by the same survey last year, whilst the figure for men has only dropped by …
Your Pension: How will you fund it?
Huge numbers of people approaching retirement age — millions in fact – are heading for a worrying mix of hefty mortgages with no savings. A report by Aviva found that 25% of ‘pre-retirees’ – those aged between 55 and 64 – have a mortgage and in 20% of those cases it exceeds £75,000. The report, …
Equity Release Helps Beat the Winter Blues!
Fed up homeowners stranded at home whilst the snow continues to fall will more than likely be dreaming of jetting off to sunnier climes; but with finances being stretched to the limit many have little chance of getting away this winter, or even this year. …
