Retirement in the UK costs a typical household £413,000, whilst an individual living alone will pay £326,700, according to a report issued by Life Trust Insurance.
The 2008 Cost of Retirement report, written by cebr (centre for economics and business research) for Life Trust, provides an objective and accurate forecast of the amount of money a person would need to fund a retirement in the UK if they were to retire at 65. It warns that people need to factor in increasing longevity when planning their retirement finances, with the cost of retirement for someone who lives to 100 soaring to £708,500. The report also highlights that while current predictions of life expectancy are 85 years for a man and 88 for a woman, these are set to rise significantly...
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