Could your pension run dry? Retirees want £21,000-a-year to spend – but two-thirds are warned their pension pots could run out Many people who retired during lockdown could end up hard up for cash Retirees need a pension pot of around £390k and the state pension, SLA says Rising inflation means people look set to … Read more
Retired homeowners who need to borrow to pay off an outstanding mortgage can now apply for a new unsecured loan designed specifically for this purpose. Previously homeowners needing to borrow large sums after they retired would have had to rely on either equity release or a retirement interest-only mortgage. Both of these routes involve taking a … Read more
Richest retirees have an income 17 TIMES bigger than poorest – and gap has almost doubled since 2010 Poorest retirees’ private pensions pay £2,260 a year, and richest get £38,940 Pension incomes rose 54% for poorest since 2010, while richest saw a 74% rise Gap has widened from £20,950 in 2010-11 to £36,680 in 2018-19 … Read more