Older Britons enjoying financial 'security'

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Older Britons enjoying financial 'security'

Thu 5th Jul 2007

Older Britons are enjoying the financial highlife, according to new research carried out by Birmingham Midshires.

Almost one in five people over the age of 55 say they can afford the social life they want, while ten per cent say they are totally satisfied that they will be able to indulge themselves with luxuries.

By comparison, just one in 50 consumers between the ages of 18 and 24 are able to indulge themselves from a financial perspective.

Birmingham Midshires' Life 2 campaign also indicates that while over half of consumers who can supplement their state pension with a personal pension are optimistic they can enjoy a basic standard of living, just 15 per cent on a state pension are of the same opinion.

Jason Robinson, director of savings operations for Birmingham Midshires, said: "The over 55s are facing enormous change in their lives and many may be apprehensive about their retirement."

He added: "It's great news that many people can look forward to financial and social freedom in later life - but, of course, the more money they have coming in from pensions and savings the more enjoyable retirement will be."

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