In My Prime stresses importance of retirement calculator

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In My Prime stresses importance of retirement calculator

Mon 27th Jun 2011

A retirement expert has urged Britons to ensure they make adequate financial provisions for the later stages of life.

Dianne Bown-Wilson, chief executive of independent advice and support service In My Prime, said people approaching retirement age must consider three crucial factors: "health, wealth and happiness".

She explained that retirement is a "shifting milestone" nowadays and many people in the UK will continue to live for a long time after they leave full-time employment.

"People need to be sure they are going to have enough money to sustain the sort of lifestyle they envisage before they decide to retire," Ms Bown-Wilson said.

The coalition government is aiming to increase the state pension age for women from 60 to 65 by 2018, with both female and male pension ages expected to rise to 66 by 2020.

However, critics of the plan have said more than 300,000 women in their 50s will be forced to work up to two years longer before retiring as a result of the change.

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