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Personal Finance News
01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
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Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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This Week's Personal Finance News Update
01/11/12
-
Money advice in increasing demand, says study
31/10/12
-
Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
-
Half of Brits shop with a basic credit card, says study
30/10/12
-
Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12
-
More than half of parents are unaware of Junior ISAs
30/10/12
-
Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12
-
Brits left with £1.4bn repair bill during 'mischief week'
29/10/12
-
East of England landlords at apex of yield chart
29/10/12
-
Buyers more optimistic about Scottish property market
News
11/07/2012 13:14:58
Mixed fortunes of UK's over-55s
The UK's over-55 population is experiencing mixed fortunes, a new study has revealed.
Aviva's latest Real Retirement Report shows that, overall, the UK's over-55s saw their total savings increase over the last quarter, up from £14,198 in the first quarter of this year to £15,756 in Q2.
However, this is mainly being driven by people aged between 65 and 74 who have seen their savings pots increase from £15,595 in 2010 to £26,085 in 2012, as those aged 55 to 64 and the over-75s have actually seen their funds dwindle.
The over-75s have experienced a drop of almost £10,000 as they are forced to dip into their savings to meet rising living costs.
Commenting on the findings, Clive Bolton, retirement director of Aviva, had the following financial advice.
"The more people can do to secure their retirement income before they stop working, the more prepared they will be to meet the expenses they encounter during their later years," he said.
