New research from Retirement Advantage shows that despite the new pension freedoms introduced in April, over a quarter of people aged over 50 don’t know how much money they have saved in order to fund their retirements.
The South West of England appears to be the place to live if you want a long, healthy and safe retirement, according to a new league table of pensioner well-being developed by Prudential. The league table, which uses a combination of census data and results from the insurer’s own retirement research, ranks the top 20 counties in England and Wales according to several measures of the wellbeing of their pensioner populations.
A single Lifetime ISA for everyone should be created with all tax reliefs on pension contributions being scrapped, a leading figure at the Centre for Policy Studies (CPS) has proposed, according to an article published by the CPS. Research Fellow Michael Johnson said the opportunity has come for a radical overhaul of savings after the Chancellor launched a consultation into the future of the pensions tax regime in July.
Consumer Intelligence conducted an independent online survey for Prudential between 6 and 10 July 2015, among a sample of 1,157 UK adults aged 45+, including 645 aged 55 or above, asking respondents what made up their own personal ‘bucket list’.
The typical working over-45 year old faces a £8,955 annual retirement income gap based on their current savings and investments – meaning they will rely heavily on a state pension that will still leave them short, the latest Aviva Real Retirement Report shows.
If that latter description sounds like you, or someone you know, you’re in very good company. Many of today’s over-60s are living life in a way that has a lot more in common with 20-somethings, despite four decades of age gap. Being part of a circle of close friends, catching up on social media and even the odd spot of online dating; they’re enjoying life to the full in a way that previous generations would hardly have dared to dream of.