About 80% of people set to retire this year have failed to make provision for funding ill-health and long-term care in retirement, Prudential research has found.
Latest figures from its ‘Class of 2012' retirement survey found just a fifth of those polled had set aside money for any care needs. Less than half (45%) of this year's retirees have planned for the fact that they may need more income in retirement as they get older. However, Prudential said increasing life expectancy meant funding for long-term care has "never been more important". Average life expectancy for men over the age of 65 is 17.6 years, and 20.2 years for women, however, healthy life expectancy is just 9.9 years for men and 11.5 years for women, it said. Vince Smith-H...
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