Retirement: Which part of the UK saves most into their pension?

Which part of the UK saves most into their pension?A new survey has revealed which parts of the UK save the most into their pension. Based on the results of a YouGov survey of 18,000 people, Friends Life has created the UK Retirement Savings Map, which reveals the parts of the UK saving the most for retirement, as well as others which are falling behind. Taking the UK as a whole the survey revealed: The average expected retirement income per week is £409.10 The average actual retirement income per week is £312.40 This results in ...

Retirement: Why 21st December 2012 is a key date for male retirees

Everyone knows that Annuity rates have fallen significantly over recent years. The latest dip in gilt yields, to their lowest level since the 1700’s, has done nothing to help the problem. Gender Directive to affect Annuity rates? The issue is likely to be compounded for men by the implementation of the European Union Gender Directive on 21st December 2012. The ruling means that Annuity providers will not be able to discriminate between men and women when they set Annuity rates. Any pension calculator will show that men get better Annuity rates than women, due to the simple fact that they don’t ...

Are you one of a growing number of ‘Wearies’?

According to a new report a growing band of pensioners, dubbed ‘Wearies’ will be forced to work past their normal retirement age to supplement their falling pension and to help makes ends meet. The report commissioned by the pension provider Friends Life, and produced by the think tank Future Foundation, claims that a new generation of ‘Wearies’, working, entrepreneurial and active retirees, is being produced as a result of the current pensions crisis. If the report’s findings are true the traditional view of retirement will be shattered, replaced by a group of people forced to work to help make ends meet after ...