The disparity between how much people are saving for retirement and how much they will actually live on is getting wider, says Claire Barker.
It is widely recognised that if current trends continue, Britain is set for a retirement crisis. According to the Office for National Statistics, 23% of the population will be over 65 by 2034, compared with 18% aged under 16. With such an ageing population, the workforce will not be able to support those in retirement, and the government reforms on -pensions have made it clear that aside from a small state pension, people will be required to provide for their own retirement. However, research from the Equity Release Solicitor's Alliance (ERSA) found that 47% of people are not curren...
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