Retirement income shortfall unveiled
www.moneynews.co.uk > Pensions calculator > Retirement income shortfall unveiled
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Money News |
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Retirement income shortfall unveiled
Thu 8th Dec 2011
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According to research carried out by MGM Advantage, 47 per cent of employed individuals over the age of 55 cite this as their biggest fear at present, with failing health the second-most worried-about issue.
The firm's report also showed the average level of personal debt for individuals in this age category presently stands at £8,200.
"More needs to be done to understand the different life stages and changing needs of individuals who have retired so that adequate emotional, health and financial support can be offered," commented Craig Fazzini-Jones, executive director of MGM Advantage.
Research carried out by insurer Aviva also recently revealed that over-55s across the UK are not sufficiently saving for the future, with one third (37 per cent) claiming they cannot afford to do so at present.
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