Roughly two-thirds of employees approaching retirement intend to continue doing some form of paid or voluntary work once they are in ‘retirement’, a new survey from Towry, the wealth adviser, has found.
Many people retiring now also want to take advantage of the greater pension freedoms next April. They may be thinking about using a drawdown pension to avoid buying an annuity, but they should tread carefully, according to financial services provider, NFU Mutual.
A recent Towry survey has found that 65 per cent of over-50s still in full time employment intend to continue to do some form of paid work during their retirement.
As the new Premier League season begins, new research from Friends Life shows that more people would find it easier to explain the offside rule than they would a pension.
People turning 65 this year can expect to average nearly 20 years in retirement, according to new analysis by Prudential.
More than four million retirees leave work with at least one financial commitment, forking out an average of £332 each month, research from Fidelity Worldwide Investment reveals.
The nature of retirement has changed and it is no longer a matter of leaving the workplace with a golden carriage clock and entering a quiet life of leisure.
Last month the Treasury announced (in their “Government response to their budget paper “Freedom and Choice in pensions”) that they would extend the new pension freedoms to the annuity market from April 2015.
Four million people have now been automatically enrolled in workplace pensions – an increase of over 1 million this year or over 6,000 a day on average.
Britain’s pensioners could be missing out on much-needed cash in retirement because of mistaken beliefs about equity release, research from Aviva shows.
Since 2011, workers over the age of 60 have seen their earnings rise faster than any other age group, according to new analysis by Prudential.
The retirement planning industry needs to seize the opportunity of the Government's new flexible pension regime to help deliver improved standards of living in retirement for millions of savers, MetLife believes.
More than one million pensioner households in the UK now have total wealth of more than £1m according to analysis by Prudential of the latest ONS data for 2010-2012.
A study of the over 40s found that two thirds already have some idea of how they would like to spend their retirement years and an income of around £15,000 a year is needed to sustain their planned lifestyle. For a couple, this means nearer £30,000 a year is needed for the ideal retirement.
Despite this year’s Budget announcing future greater access for pension funds and more freedom for people to make decisions about their retirement income, the death of annuities may have been over-exaggerated.
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