Virgin Stakeholder Pension first-year fees waived
www.moneynews.co.uk > Pensions > Virgin Stakeholder Pension first-year fees waived
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Money News |
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Virgin Stakeholder Pension first-year fees waived
Mon 27th Mar 2006
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Pensioners spend less on their weekly grocery shopping than the typical British adult spends on nights out, the company's report claims.
The average weekly amount spent by a British adult on going to bars and restaurants is £27.41 per week, while pensioners in the 1.2 million households across the country who rely on a state pension spend £20.73 on their shopping.
Jason Wyer-Smith, spokesperson for Virgin Money, described the amount that over a fifth of pensioner live on as "a pittance", stating that many retirees barely manage to afford essential items of food and drink.
"We're asking the eight million Brits who aren't saving anything for their retirement if they could live on a pensioner's shopping basket not just for one week, but every week, because at the moment that's the retirement they're headed for," he added.
New customers, who did not hold a Virgin Stakeholder Pension before February 9th 2006, must apply before May 10th and invest at least £1,200 gross in order to take advantage of the fee-free for a year offer.
For existing customers, any amount paid into their pension between February 10th and May 10th will qualify for the offer.
Related News : Pensions |
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