Early retirement means state dependency

Many early retirees will end up dependent on the State as their financial resources dwindle due to increased longevity, FSA chairman Howard Davies told NAPF delegates at a recent conference. Davies said the UK was witnessing a bizarre combination of trends, with mortality lengthening while workers are retiring increasingly early. He added that the message that early retirement made little economic sense in the context of an ageing population had not reached down into many organisations. He said: "The implications for this worsening ratio are dramatic because the amounts needed to be s...