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Displaying items by tag: retirees

Retirees using the Pensions Freedoms are demanding more flexibility on income withdrawal and driving demand for financial advice.
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Friday, 06 October 2017 16:00

1 in 5 retirees struggle to adjust to retirement

One in five adults (20%) who have retired in the last five years have admitted to struggling to cope with retirement. 
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A flexible retirement, involving a gradual reduction of hours and stopping work at an acceptable age, is likely to be a mirage for millions of people based on current levels of saving.
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Retirees can use £1,500 from their pension pots to pay for financial advice from April, it was announced this afternoon.
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This year’s retirees will have the highest income since 2008.
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Average income for retired households continued to rise following the economic downturn and has gone above the 2007/08 level – in contrast to non-retired households which have failed to get back to that same peak.
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Retirees who entered drawdown in 2015 could face "a decade of lost income" if volatile market conditions continue as they have been, a pensions firm has warned.
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Thursday, 10 September 2015 11:10

Incomes for 1 in 3 over-65s slip below minimum wage

A new study from LV= has uncovered that a third (32%) of retirees are now living on less than the minimum wage, an estimated 4.8m people.
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Traditional inheritance may be dying out, with a rise in 'giving while living', research has suggested.
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More than a fifth of retirees due to give up work this year have said they are not ready to do so entirely – continuing a growing trend stretching back to 2011.
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