Retirement: Calls for Stamp Duty for pensioners to be axed

downsizing home to a smaller oneAn ever increasing number of pensioners are relying on the equity in their home to help meet the cost of retirement, leading to calls for Stamp Duty to be scrapped for pensioners. Research from LV= has shown that: 34% of people approaching retirement will use the money tied up in their property to help pay for their retirement The number of people planning to use the equity in their home for this purpose has increased by 50% Downsizing, which involves selling a more expensive property, to ...

Retirement: Thinking of using your pension to pay for your care in old age? Think again

New research has revealed the difficulty many older people will have when the time comes to pay for the cost of care. Most people pay into a pension during their working life to ensure that they have sufficient income when they retire. However, with ever increasing life expectancy more and more people are being forced to use their pension to meet the cost of long-term care. What’s more, with the introduction of Pension Freedom, which allows for unlimited withdrawals from a pension, experts predict that an ever increasing number of people will ...

Retirement: Millions rely on receiving an inheritance to fund their retirement

Millions rely on receiving an inheritance to fund their retirement 150pxDespite the introduction of Pension Freedom, new research has revealed that millions of people will only have a financially comfortable retirement if they receive an inheritance. The research, which surveyed 2,000 people, of which 25% have already retired, was conducted for the pension provider, LV=. It found that 35% of working people are reliant on receiving an inheritance to secure a financially stable retirement. At the same time 20% of people surveyed, who are still working, won’t be able to comfortably retire ...

Retirement: Revealed, why women expect 25% lower income in retirement

equal payDespite moves to equalise the pay of men and women, new research has shown that this has yet to filter through to people in retirement. New research from the Prudential has highlighted the large gap between the expected retirement income of men and women. As part of their Class of 2015 report, Prudential found that: On average women expect to receive £4,800 less than men each year when they retire Men expect an income of £19,100 per year, compared to women who anticipate an income of £14,300; a gap of 25% At the same ...