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- Retirement uncertainty hits over-55s - 24th November, 2008
A recent survey has revealed that nearly half of Britons approaching retirement age are unsure about their financial situation.
... - Pensioners 'struggling with debt' - 24th November, 2008
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A study published today reveals that many pensioners will have to battle with debt in their retirement, thanks to the credit crunch.
The survey, conducted by pensions provider Just Retirement shows that 24 per cent of people approaching retirement age are in debt and 46 per cent are worried about whether the amount they have in savings accounts and pension funds will be enough to provide for them in their old age.
Nigel Barlow, head of retirement solutions at Just Retirement, said as pensioners' disposable income falls, many are looking at taking on part-time jobs after they retire.
He added: "However, with unemployment figures estimated to reach two million by December, it is possible that pensioners will find it harder than ever to find work."
Mr Barlow advised those approaching retirement age to be careful with their choice of pension package... - Credit crunch pushes older people to emigrate - 21st November, 2008
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Research released today by RIAS shows that many Brits nearing pension age are considering living out their retirement overseas, because of concerns about the economic downturn.
RIAS, which specialises in cheap insurance for older people, found that 400,000 over-50s are already planning their life elsewhere.
A further one in ten of those polled said they were 'seriously considering' leaving the country in search of more welcoming economic climes... - AEGON: Pension packages must be more flexible - 20th November, 2008
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AEGON has published the results of a survey of independent financial advisers (IFAs) which shows that many Brits would like to see pension packages that offer greater flexibility.
As retirement becomes less of the landmark lifestyle change that it once was, 86 per cent of IFAs say their clients want newer, more flexible retirement solutions... - Allowing people to withdraw pensions early 'would be popular' - 18th November, 2008
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Research by pensions advice bodies has shown that a scheme which allowed people access to the money in their pension funds before their retirement would encourage more people to keep up with regular pension payments.
The study, conducted by Legal & General in conjunction with the Pensions Policy Institute, revealed that 42 per cent of those who already have pensions would be likely to increase their contributions if such a scheme were implemented.
An additional 42 per cent who did not pay into any pension fund said they would be more likely to join one if they were allowed access to the funds before their retirement... - Credit crunch worries women more than men - 18th November, 2008
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A study released recently has revealed that women are worrying more about their financial situation during the credit crunch than men.
The research, conducted by Moneywise.co.uk, showed that 43 per cent of women were worried about the state of their finances, including savings accounts and property investments, compared to only 25 per cent of men.
Equally 58 per cent of male respondents said they felt confident about their financial situation, compared to just 26 per cent of women... - AXA: Recession fears lead to pension holidays - 17th November, 2008
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A survey published today by AXA reveals that one in 12 pension holders may stop their pension payments during the next two years because of the impending recession - a move which could see pension funds lose out on nearly £35 billion.
The research shows that over half of the £1.5 million workers who may be planning to stop their pension contributions are doing so because the economic downturn has increased the cost of living and left them needing to pay of debts... - Customers turn to high interest loans as credit dries up - 12th November, 2008
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With the banking crisis cutting off the flow of consumer credit, experts have warned that customers are increasingly turning to high interest forms of borrowing in order to get by.
Francis Walker, spokesperson for the debt relief charity Credit Action, said that as cheap loans are no longer available, the public is increasingly turning to payday loans or pawnbrokers for credit.
Ms Walker said the trend was worrying, especially for those on modest incomes because "the poorer you are, the harder it is to get credit".
She said that while a needy person turning to high interest forms of borrowing was understandable, it could have severe consequences... - Brits 'put their trust in savings accounts' - 12th November, 2008
After last month's banking crisis, savers could be forgiven for thinking that banks may not be the safest places for their money, but a survey released today shows that Britons' attitudes to savings accounts have become more positive since the credit crun...
- Brits 'missing out' on pensions tax relief - 5th November, 2008
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Brits could be missing out on the tax relief on offer from pensions as the majority are unaware of the tax benefits of pension savings.
According to new research by Zurich, three-quarters of consumers do not know they are eligible for tax relief on their pension contributions...