On June 20th an article on Financial News said “Most not saving for pension”. The article mentions that even less then half of the working age adults are saving money for their retirement.
A survey shows that less then 49% are saving for old age. Although this is better then the 46% of the last year but still almost a quarter have no savings at all according to Scottish Widows UK Pension Index.
According to the Scottish Widows many of the currently employed people will have to live on 70% to 80% less working age income after retirement. Ian Naismith, head of pension’s market development at Scottish Widows, said: “While confidence seems to be returning slowly to the pensions market, 51% of those who should be preparing for retirement are still not saving adequately.” (more…)
Over 60? Looking for travel insurance? Read this first.
Considering taking out travel insurance? Well here are a few tips to avoid the pit falls travel insurers have set for you. If unknown, you could be paying up to twice the amount you planned. With offers for around ten pounds for one way insurance, you need to be extra careful to avoid these pitfalls, or it could cost you a hell of a lot more.
Are you over 65 or nearing 65? Well travel insurance is probably going to cost you more, as reported by Damian Clarkson of Everyinvestor, who has revealed an astonishing revelation of age discrimination for the over 65’s. You are most likely to pay more than double the premium compared to someone younger.
When asked by the Association of British Insurers to comment on the age factor, their communications manager argued that it was more likely for someone over the age of 65 to make a claim, compared to younger people, and also the amount of claim is normally three times that of an average claim. (more…)
