Baby boomers have less than one year to decide if they wish to take early retirement, or they could end up waiting an extra five years to leave work, says Killik & Co.
The firm is urging baby boomers to consider making a lump-sum payment into their pension fund, to maximise their tax benefits and increase their retirement income. The UK retirement age rises from 50 to 55 on 6 April 2010, meaning those who are aged over 50, or who will turn 50 before this date, will need to consider now whether they wish to retire early, or be forced to wait several more years. Whether investors are considering retirement in the next twelve months or not, Malcolm Cuthbert, partner at Killik & Co, is urging them to consider making a lump sum investment into their pensio...
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