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

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

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

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

Bank of Gran and Grandad pays out average £39,350 One in five retired homeowners releasing equity to help out family More than two-fifths (44%) helping out their children are doing so to the tune of £20,000 ​Pensioners taking advantage of their property wealth are gifting over £39,350 to their family, analysis from leading over 55s retirement specialist KeyRetirement.com shows. Its data shows over one in five (21%) retired homeowners are accessing the money in their homes to treat their children...Read more

66% of over 50’S have no will Have you made a will, have your friends? According to a BBC article only three in 10 people in the UK have a will. Last year the Treasury gained £53m from people who died intestate - without a will. The year before it was £76m. And yet the fractured nature of modern families and an increasingly litigious society means making a will has never been so important. Illustrated in this article are a...Read more

A third of over-55 year olds have considered downsizing in the last five years The issue of selling the family home is often fraught with emotion, so often the home we live in is a vessel for memories and parting has far more than financial gain as a consideration. RICS is calling on Government to expand the nation’s housing supply across all sectors – from owner occupied, social housing and private rented sectors – through their new Residential Policy Paper....Read more

Over half of all over 50s to use their property to fund their retirement The number of working over-50s planning to use their property as their pension has doubled in the last year - half (52%) now set to use cash in property to fund retirement 75% of over-50s own their property outright Average homeowner over-65 has lived in their property for 25 years The HIPpies ‘home is pension’ generation has doubled in the last year, according to retirement specialist...Read more

2.4 million grandparents raid pension to help grandkids A quarter of grandparents who have helped out grandchildren financially took the money from their pension The average grandparent has already given away £1,633, and plans to give away £2,938 more in future House deposits, university fees and cars are common reasons to gift Forget the Lamborghini, 2.4 million UK grandparents1 have either raided their pension to support their grandchildren, or plan to in the future. According to new research from retirement...Read more

'State Pension top up’ scheme starts A new scheme to help anyone reaching State Pension age before 6 April 2016 to safeguard their long-term financial security. A new scheme is being launched helping anyone reaching State Pension age before 6 April 2016 to safeguard their long-term financial security. Men aged 65 or older and women aged 63 or older are being offered a chance to increase their State Pension by up to £25 a week, giving them guaranteed extra income...Read more