Advanced





Over 50s retirement plans 'vulnerable' to effects of recession



Leading older people's charities have expressed their concerns that a lack of over 50s finance options could jeopardise the retirement plans of many of the UK's older population.

A new report by Age Concern and Help the Aged has revealed that fear of the effects of recession is prompting 60 per cent of over 50s to work longer than they had originally intended, due to uncertainty over redundancy and the insufficiency of current pension schemes.

In response to these figures, Age Concern has called for government action including the abolition of the default retirement age, support for unemployed over 50s and incentives for businesses to take on older workers.

Michelle Mitchell, charity director for Age Concern and Help the Aged, said: "For many over 50s, one of the lasting legacies of this recession will be a retirement blighted by poverty."

Last week, Standard Life called for greater flexibility in pension provision amid concerns that current schemes are alienating over 50s savers.




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