Retirement: Discover the number one fear of pensioners and our six top tips to deal with it

Discover the number one fear of pensioners and six top tips to deal with itWhat’s the number one fear for people in retirement? Keeping fit? Staying healthy? Losing your partner? No, it’s inflation and the rising cost of living. A recent survey by MGM Advantage has found that for 53% of people the rising cost of living is their biggest single fear in retirement. So what can you do to help reduce the effects of inflation? Here are our six top tips: Tip #1: Consider an inflation linked Annuity Despite the changes ...

Inflation to cause more pain for pensioners

A new study has warned that inflation will cut the spending power of pensioners by 60% over the course of a 20 year retirement. Research done by the Prudential has shown that someone retiring in 2011 with an average income of £16,600 can expect to see the buying power of that income fall dramatically to £6,700 in 20 years time, effectively giving a pay cut of £10,000. Vulnerable Pensioners are affected more than younger generations by inflation as they tend to spend more of their income on goods and services, for example fuel and food, which rise in price faster than items bought ...