Retirees’ incomes squeezed to support their families

Category: Lifestyle & retirement & savings & Uncategorized

Two in five (39%) people planning on retiring this year provide financial support to their families or other dependants, according to new research by Prudential. The research into the ‘Class of 2014’ is Prudential’s seventh annual study tracking the future plans and aspirations of people who plan to retire in the next year. It reveals that retirees who still provide regular support to their dependants pay out an average of ÂŁ250 per month, or ÂŁ3,000 over the course of a year.

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Over-55s benefit from boosted income and savings

Category: retirement & savings & Uncategorized

Britain’s over-55s are cashing in on the improving economy with rising incomes leading to more than £150 extra in their pockets a month compared to the same time last year, Aviva’s latest Real Retirement Report shows. Findings show savings pots have increased too, but the level of monthly expenditure has risen with the cost of living putting increased pressure on household budgets.

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