Over-65s face social care timebomb

Most people over 65 have not prepared for funding social care in later life, despite around half of all care users having to cover some of the costs themselves. Research from the Association of British Insurers (ABI) revealed that 89% of over-65s have made no plans to...

Over-60s earnings income on the rise

People in their 60s and 70s have seen significant income growth in the last 20 years, research from the Institute for Fiscal Studies (IFS) shows. The report says middle-income 60 to 74-year-olds have total incomes more than 60% higher than a similar group would have...

Retirees to outlive savings by 10 years

The average retiree in the UK is likely to outlive their retirement savings by more than 10 years, research from the World Economic Forum (WEF) claims. Women are expected to be the worst affected, outliving their savings by 12.6 years on average, compared to 10.3...

1 in 3 retirees miss out on pension advice

Just over a third of retirees have not taken any form of financial advice before accessing their pension, research from the Association of British Insurers (ABI) shows. Of the 62,376 people who entered drawdown for the first time between April and September 2018, 34%...

Savers withdraw £25.62bn through pension freedoms

The total amount of withdrawals made using pension freedoms since April 2015 has risen to £25.62 billion, Government statistics show. People aged 55 and over have benefitted from more choice when it comes to accessing their pension savings from 2015/16. In 2018/19,...