• Login
SUBSCRIBE TO OUR NEWS EMAILS
Sunday, 24 January, 2021
No Result
View All Result
BestAdvice
  • News
  • Features
  • Blogs
  • Podcast
  • Research & Reports
  • Video
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
No Result
View All Result
BestAdvice
No Result
View All Result

Sizeable proportion of pensioners staggering retirement

by Kevin Rose
25 February 2020
Wealth hit by later life cohabiting
Share on FacebookShare on TwitterShare on LinkedIn

A number of pensioners are opting for a staggered retirement and working part-time before giving up work completely to make sure their pensions last the rest of their lives, according to new research from LV=.

The LV= survey of more than 1,000 adults aged over 50 with defined contributions found that nearly one on three (32%) pensioners in their 60s and 16% of over-70s have left their pensions untouched.

Of those who haven’t accessed their pension pot, nearly half (48%) of those in their 60s, and 24% over 70s, say it is because they are still working.

With people living longer, and the added prospect of health care costs in later life, retirees increasingly understand the benefits of having a larger pension pot in later life. Of those who haven’t accessed their pension pot, half (51%) say it is because they are still working while more than a quarter (25%) of people in their 60s say it is because they want their pensions to last as long as possible.

Of course, retirees who haven’t accessed their pension pot must have alternative sources of income. When asked about their income. Nearly half (47%) said they take an income from cash savings (47%), others rely on their spouse/partner’s income (35%) or State Pension (22%) while 12% rely on income from property investments (12%).

Clive Bolton, managing director of savings and retirement at LV=, said: “It is encouraging to see that people are working longer as the barriers to working past retirement age fall away. This trend for staggered retirements is good news because continuing to work offers many financial and health benefits. It is often taken for granted but continued good health is one of the best financial assets people can have. The benefits of working – such as remaining physically active and continued social interaction – can make a big difference to people’s mental wellbeing and overall health in retirement.

“People are making sensible choices about retirement to ensure that they do not run out of money, but it’s also really important that they also make their pension savings work for them past retirement age so they don’t miss out on the ability to generate growth above inflation for when they are ready to start to draw their pension.

“There are lots of product and fund choices available to help achieve this and it’s a good idea to seek help from a financial adviser so that people can enjoy the retirement they want.”

ShareTweetShare
Previous Post

IMLA outlines its housing priorities for Budget

Next Post

Mortgage Magic to offer free CRM for small brokerages

Next Post
Mortgage Magic to offer free CRM for small brokerages

Mortgage Magic to offer free CRM for small brokerages

Steve Swyny

First 4 Bridging adds Castle Trust to panel

New Kensington mortgage rewards environmental improvements

CLICK FOR COVID-19 LATEST

FSCS deposit protection limit increases

AMI hits out at FSCS levy hike

22 January 2021
Lack of safety net for four million renters

Private renters reveal pandemic worries

22 January 2021
Generation X to use property to fund retirement

2020 house sales down 11.5% on previous year

21 January 2021

LIMITED COMPANY BTL REPORT

Most Popular

  • Should we stay or should we go?

    Don’t ignore EU money laundering directives, firms warned

    0 shares
    Share 0 Tweet 0
  • Pepper plans fivefold servicing growth in Spain with new platform

    0 shares
    Share 0 Tweet 0
  • Metro Bank agrees distribution deal with Brilliant Solutions

    0 shares
    Share 0 Tweet 0
  • Openwork appoints chief commercial officer

    0 shares
    Share 0 Tweet 0
  • They couldn’t have done it without you

    0 shares
    Share 0 Tweet 0

Receive BestAdvice briefings

   


   


   


Recommended

Widespread underestimation of remortgage savings

The Ipswich increases multiples for higher earners

2 weeks ago
Hope Capital extends availability of its 0.69% rate

Hope Capital joins Optimum ELITE panel

3 weeks ago
The Skipton becomes an internal ratings based lender

Skipton introduces 1.64% fixed rate

1 week ago
Octopus Property increases regional lending

Nucleus Commercial Finance sets £200m CBILS lending target

3 weeks ago
  • Subscribe
  • Advertise
  • About us
  • Contact us
  • Privacy policy
  • Terms & Conditions
SUBSCRIBE TO OUR ALERTS!

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

No Result
View All Result
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.