You are here: Home - Uncategorized -

Pensioners ‘better off’ now than before

0
Written by:
12/04/2006

The average UK pensioner is almost twice as well off as they were in 1979, according to a report by medical insurer Clerical Medical (CM).

The amount of income from private pensions rose at three times the rate of income from the State pension and average weekly pensioner income rose went up from £47 in 1979 to more than £300 by 2004.

“There has been a significant shift in the balance between pension income sourced from the State and private pensions over the last 25 years,” said John Hiew, managing director of CM Financial Services.

“Almost 70% of retired households now rely on their private pension arrangements to supplement the cost of living in retirement, compared with 40% in 1979,” he added.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Marks sparks up the sales

The Marks & Spencer (M&S) revival is continuing after it reported “strong” sales growth in the first three months of...

Close