Jet age savers see their returns soar

Next week marks the 50th anniversary of the maiden flight of the Boeing 707, which marks the start of the “jet age” of commercial jet travel. This transformed the world, heralding an era when people could travel the world, and connecting societies around the globe.

50 years on, the 50+ generation form one of the most important segments of society, holding 91 per cent of savings and current account assets, 43 per cent of ISA assets and 33 per cent of shares.

Indeed, they have been so successful that Abbey research earlier this year revealed that the personal wealth was greater than the GDP of every country in the world except the USA.

It’s not just in finances that the 50+ generation have progressed - the jet age has really helped the 50+ generation achieve their lifestyle goals. Recent research from Abbey showed that 30 per cent of people over 50 intend to spend their retirement travelling around the world. 57 per cent of those over 50 have also taken an overseas holiday in the last three years.

Reza Attar-Zadeh, Head of Savings at Abbey, said: “It is amazing to think it is over 50 years since the first mass production commercial jet airliner launched. Air travel has transformed society, and the over 50s – who have high disposable incomes - are taking advantage of the jet revolution to travel the world.

“For this reason, we launched our 50+ saver account to create an account that reflects the status of the over 50s and offers highly competitive rates to encourage saving for those approaching retirement.”

Abbey’s 50+ Saver account is designed exclusively for people aged 50 or over. It offers up to 6.30 per cent interest, and guarantees to move in line with any changes in the Bank of England base rate until July 2008.

Abbey 50+ Saver

The Abbey 50+ Saver has been designed following consultation with Abbey customers and offers: -

Up to 6.30 per cent AER, including bonus of 0.50 per cent for 12 months following the opening of the account
Interest rate (AER) guaranteed to move in line with any changes in the Bank of England Base Rate until 1 July 2008
A minimum opening balance of £1, maximum deposit of £2m
Account is accessible by telephone, post, internet and cash machine
Interest can be credited monthly to a suitable Abbey account

For further information, visit abbey.com.