Aviva: Over 55s reap income boost as economy recovers

Jenna Towler
clock

Over 55s are enjoying £150 a month extra income compared to last year as a result of the economic recovery, Aviva's Real Retirement Report has found.

The provider's snapshot of 55-75-year-olds finances found saving rates were also improving with an average £198 a month being put away. It is the best rate in three years, the firm said. Spending is also at a high of £816 a month, unsecured debt has fallen and two-thirds of over 55s own their home outright. Aviva's Spring 2014 Real Retirement Report assesses consumer finances across the UK's three ages of retirement: pre-retirees (55-64) retiring (65-74) and the long-term retired (over 75s). The report said over-55s typically receive an income of £1,373 a month - an extra £151 a mo...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Curry: "Design standards are vital for consumer protection."

Pensions dashboard design standards consultation opens

PDP consultation closes to responses on 16 February 2023

Holly Roach
clock 02 December 2022 • 1 min read
FCA launches paper on dashboard provider rules

FCA launches paper on dashboard provider rules

'Welcome next step towards making dashboards a reality'

Holly Roach
clock 01 December 2022 • 2 min read
SIPP borrowing for commercial property investment explained

SIPP borrowing for commercial property investment explained

Helping clients navigate a pension lending 'journey'

Caitlin Southall
clock 01 December 2022 • 4 min read