Personal Finance News

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

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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

15/06/2012 16:57:55

There is a 'new retirement reality'

ONS figures showing that the number of people working beyond state pension age has nearly doubled from 753,000 in 1993 to 1.4 million today reflects a "new retirement reality".

Vince Smith-Hughes, retirement expert at Prudential, said that although this is being fuelled by a desire to stay active for longer, it also reflects the rising costs of living in the UK.

Prudential figures show that ten per cent of people who had planned to retire this year are deferring this decision, while those who do retire at 65 face an average of 19 years in retirement.

"There is a new retirement reality taking shape across the UK," said Mr Smith-Hughes.

"The retirement landscape is changing and, as a result, retiring at 65 is no longer a given for the vast majority."

A recent study from Scottish Widows found that more than half of people in Britain are not saving enough for retirement.

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