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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | November 2008 (4 blogs) | Pensions timebomb: 30 million retirees in next 20 years
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Pensions timebomb: 30 million retirees in next 20 years
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According to Rachel Vahey, Aegon head of pensions, in Britain we are comprehensively underestimating retirement issues, such as how much we need to live off, the effects of moving from final salary scheme provision to reliance upon money purchase pension plans. And, this is not to mention increased life expectancy, and health and care issues for the ‘at retirement’ marketplace. I totally agree with her, don’t you? The choice and complexity of products facing would-be retirees is bewildering to say the least.
At a conference held by the ABI this week, she said, "The number of people retiring is going to increase. The baby boomer generation are all coming into retirement and 30 million people will reach age 65 over in the next 20 years."
That’s a startling statistic, isn’t it? To read what else Rachel had to say, see:
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Mike Jones, MyCompanyPension.co.uk, 26th November 2008
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