Category: Money

Poorest pensioners dependent on state pension with millions more reliant on it

2018-01-28 16:31:35

For the poorest pensioners, three in every four pounds (78%) of their income comes from the State Pension, rising to approaching nine in every ten pounds (86%) when State benefits are included, according to a new report by the Pensions Policy Institute (PPI), sponsored by Age UK. The report finds that while levels and sources of income vary across the older population, the State Pension is an important part of retirement income for all pensioners except the lucky few with...Read more

56% of people aged 50 plus say they live for today and 61% say they are enjoying life more since they turned 50.

2018-01-10 12:35:13

Long gone are the days when pensioners spent their retirement doing crosswords and gardening, now, retirees are having more fun than ever, and spending their hard-earned cash in the process. But all this costs money – and the ‘baby boomers’ are not afraid to spend it, with almost a third (62%) saying money is ‘there to be spent’ and more than half (56%) saying they want to enjoy their money now, and not pass it on to others. However, they...Read more

Over 50s reveals money is the biggest concern for 28% of retirees

Over 50s reveals money is the biggest concern for 28% of retirees More than a third (35%) of retirees are worried their cash will dry up before they die and a quarter say they don’t think they have enough money in their pensions to cover their retirement, according to SunLife’s Big 50 research. Big 50, which interviewed 50,000 people age 50 and over, found that, when asked to think about their biggest concern for the future, 28% of retired people...Read more

8 out of 10 over 50’s don’t have a retirement bucket list – but why does that matter?

2017-09-18 18:50:27

As freedom from the ‘9 to 5’ routine looms, the prospect of extended leisure time is welcome food for thought for those approaching pension age. But despite the perfect opportunity for people to realise the dreams they haven’t previously had the time or money for, why are so few making a bucket list? A recent survey carried out by retirement specialist, Age Partnership, has revealed that only 20% of over 50s have a ‘bucket list’ for their retirement years. The...Read more

97% of us have made no plans for what will happen to our ‘digital legacy’ when we die

Life after death? 63% use social media and 77% buy online yet just 3% have made plans for their digital legacy There is no doubt about it, over the past ten years internet use has become part of our day to day lives. More than eight in ten of us use the internet daily; the most popular use is checking and sending emails but more than three quarters shop online, almost two thirds use social media sites and six in...Read more

British adults have £721BILLION of ‘dead money’ sitting in bank accounts and ISAs

2017-07-02 15:12:16

British adults have £721BILLION of ‘dead money’ sitting in bank accounts and ISAs, according to new research. The average person aged 18 and over has saved £14,049.30 - but has no plans on what to do with it,in addition, a third have up to £250 in cash hidden at home, while one in 10 has over £1,000 tucked away. And one in five has a personal pension containing more than £20,000 - which they no longer pay into. Lisa Caplan,...Read more

The UK’s reluctance to save for the future leaves families facing funding gap for funerals

2017-01-08 18:44:23

Sadly, we will all die one day. Yet very few people in the UK put any plans in place for their funeral, no matter how simple their wishes might be. A result of this reluctance to plan ahead for the inevitable, as Royal London’s Funeral Cost Index has revealed, is that an increasing number of people are having to borrow money to pay for a funeral, despite the fact that funeral firms are holding, and in some cases reducing, their...Read more

New research shows nearly half of workers would stay in their work- if offered improved flexibility by their employers in later life

2016-12-22 18:56:16

New research shows nearly half of workers would stay in their work- if offered improved flexibility by their employers in later life. An interesting fact that 47% per cent of (older) workers responding to the latest British Social Attitudes Survey (BSAS) indicated they would happily work longer before retiring providing their employer were to offer more flexible hours. This would mean older workers keep their skills up to date, continue to earn an income and free up some time to...Read more

As funeral costs to continue soar, the average funeral now approaches £4,000

2016-12-11 18:55:51

Research from SunLife’s 2016 Cost of Dying report cites the cost of funerals have more than doubled in price in little over a decade With continued speculation on inflationary pressure post Brexit and the continuing squeeze on wages, investment's and pensions funerals have now emerged as one of Britain's fastest rising costs. In-fact SunLife’s annual Cost of Dying research shows that the cost of dying is the fastest rising (of any fixed) cost in the UK – rising at a...Read more