UK pensioners could run out of money at the end of their lives

The World Economic Forum has found that many pensioners will not have enough in their savings to see them through the last years of their life. According to the economist, most Britons will run out of money more than 10 years before they die. This is because the value of pensions is not rising in line with life expectancy.

To counteract this Britons may need to keep working 10 years longer than they initially anticipated to avoid running out of money before they die. The report states pensioners need enough income to cover 70 per cent of their pre-retirement pay before they factor in any kind of pensions.

Co-author of the report Han Yik said of the findings: “You either spend less or you make more.

“All the risks that government and employers used to have, we’ve shifted that onto the workers.”

He urged governments to make more provisions for pensioners.

If this is not done, he warned, people are likely to have to postpone retirement.

Worried about your pension and ensuring you have enough money saved to enjoy retirement? Speak to us today and we can talk you through the best options for you.

Source: The Express

Latest Tweets

to speak to a member of our team, please call 01489 668280

Contact Us

You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 1998. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.

Lancaster Court
8 Barnes Wallis Road
​Fareham
Hampshire ​
PO15 5TU