Advanced





Over 50s 'are seeing their savings dwindle during recession'



Over 50s are increasingly seeing their savings impacted due to the recession, according to an expert.

The ongoing effects of the economic downturn are having negative repercussions on the pension pots of many over 50s, according to an expert.

Recent research by moneysupermarket.com has revealed that more than a fifth of over 50s in the UK have seen their levels of debt increasing in the last 12 months as they seek to keep up their bill payments.

Joanne Garcia, head of credit cards at comparison site Confused.com, stated this shows that over 50s are possibly even more susceptible to debt in the current climate than younger people.

She suggested this may be because older people are having to help their family members to pay for education or property purchases as well as catering to their own needs.

As a result, Ms Garcia stated that many have now accepted that they will need to work for longer in order to keep themselves financially stable.



To view businesses and services in our Finance section click here




Homebase
Homebase is the UKs second largest home improvement retailer and is recognised for choice, style ...
Silver Travel Advisor
Have your say and you could win a Greek Island villa holiday. If you like holidays and ...
Sky
For some of the most talked-about TV, get Sky TV. In all, we've 100+ digital entertainment ...
Make a Will Online
Make a Solicitor checked Will Online with Gloss Legal
Travel News
All-inclusive holidays 'offer value for money'
Finance News
Recession 'causing problems for over 50s abroad'
Dating News
Online dating 'can give over 50s another chance at love'

We Luv Sweets
New Zealand Holidays
Kirra Tours 100 Percent Kiwi New Zealand Holidays by New Zealanders. Although larger than the UK, New Zealand has a ...
ProstaMax
The only prostate supplement with 100% pure Beta-Sitosterol