News items from the press relevant to the 50+
Where do you stand on nakedness? I don't mean young, smooth-skinned, lithe nakedness. I mean older, dimpled and slightly untidy nakedness. Where do you stand on that? Last week was rather exciting for unexpected bare bits,
The Guardian Fashion blog, 27th November 2013
An independent Scotland would set its state pension at £160 a week, trumping the payouts in England.
Our state pension in Britain, which has been criticised for being one of the least generous in the world, is will be a flat-rate £144 in 2016 under reform proposals. This is expected to be increased in line with inflation to nearer £155 a week when the reform takes effect.
However, should Scotland gain independence in the referendum next September, it would set its own pension at £160 a week. The White Paper for Scottish independence, published yesterday, said: "Within the first year of independence, the single-tier pension will be set at a level of £160 per week."
Dan Hyde writes in The Telegraph, 28th November 2013
The Government is failing to use the talents of the older generation to help revive the economy, experts warn.
The over-50s are being sidelined in a “criminal waste” of knowledge and expertise through ageism.
Over-65s contribute more than £65billion to the economy but this could be much higher, says Prof Tom Kirkwood, Dean for Ageing at Newcastle University.
He said: “Older people can really deliver growth. This is a tremendously important national and societal resource just simply being parked in garden potting sheds.
“Huge amounts of mental capital go to waste. Time and time again, highly experienced mature individuals reach an age when the world stops listening or stops even asking them.
“It is a criminal waste.
"These people may have been doctors, architects, engineers or street sweepers but they have mental capital and contribute to solutions if it were only made easier and part of the reason it isn’t made easier is that they are victims of ageism.”
Rip-off insurance firms are raiding the pensions of millions of older workers while failing to offer a decent income from the investment, experts claimed last night.
Some pensioners receive so little that they would have to live to almost 100 to get back the money they saved into their pension.Sean Poulter writes in The Mail, 18th November 2013
PRINCE Charles turned 65 last week and is now officially a pensioner. But while the heir to the throne may be holding out for the top job, many of those approaching this age will be thinking about retirement – and the decisions they need to make as they reach this milestone age.Esther Shaw writes in The Express, 17th November 2013
Marcia Bennett has just changed her email address. Like many people, she had been using her birth year with her name. Now she has removed the 63.
The 50-year old has been looking for work for two years and does not want prospective employers working out her age. "Every job I am applying for, it is just not happening," she says. "I have only had five interviews in a year. I do 10 to 15 applications a week."
Bennett is one of more than 400,000 people over 50 in the UK who is registered as unemployed, according to the latest official jobs data released yesterday. It is a smaller number than the nearly 1 million young people out of work. But over-50s are more likely than any other demographic to be long-term unemployed.Katie Allen writes in The Guardian,
The Telegraph, 13th November 2013
A generational divide is emerging in pension saving as people in the middle of their career fall behind young professionals and those nearing retirement.
This middle-aged group is unlikely to have the generous final salary pensions enjoyed by their parents – and they appear less aware of the need to provide for themselves than today's younger generation.
Despite continued warnings about increasing life expectancies and the lack of resources to fund state pensions, survey after survey shows people are not saving enough for their old age. And there is a "black spot" of inadequate saving focused on those in their forties and fifties.
Nicole Blackmore writes in The Telegraph, 5th November 2013
This surprising research, undertaken by academics at Bristol University in conjunction with think tank The International Longevity Centre, comes at a time when the political agenda is dominated by themes relating to households' financial struggles in the face of rising energy bills, low interest rates and other difficulties.
Richard Dyson reports in The Telegraph, 30th October 2013
Who will meet the costs of our care in old age? It is a question that most of us willingly put off, but that all too many will end up facing.
Whichever way you look at the statistics, it is undeniable that in the UK an increasing proportion of an ageing population will require care and support running into tens thousands of pounds. By the government's own forecasts, one in 10 of us can expect costs of over £100,000.
The need to tackle the future financing of long-term care in retirement is a crisis in the making, made worse by the reality of finite state funds. Added to this there is widespread confusion about what care the state will actually provide when needs arise, and a complex savings regime which views savings products individually rather than holistically.Clifford Sims writes in The Guardian, 21st October 2013
News that the unemployment rate had fallen slightly will have come as scant consolation to Audrey Poppy.
Over the past three years, she estimates she’s applied for 100 different roles, which have led to just three interviews and no full-time job.
‘It’s incredibly demoralising to be knocked back so consistently,’ she says.
But Audrey, from Barnet, North London, is not one of the much-discussed younger generation, desperate to get on the job ladder but struggling to find a foothold due to lack of experience. Quite the reverse.
At 53, she has enjoyed a career that has ranged from editing legal magazines in Hong Kong to working in public relations in the UK and is, as she puts it, ‘dripping in qualifications
Adam Lusher writes in The Mail, 21st October 2013
A group of pensioners have bought their retirement village after its owners went bust.
The previous owners of the Woodchester Valley Village, near Stroud in the Cotswolds, private company Bluchie Limited went into liquidation three years ago.
And since then, the residents of the complex - previously called Crystal Fountain Village - have been fighting to buy the freehold to the retirement complex.Lizzie Edmunds writes in The Mail, 8th October 2013
Research from Retirement Assured, the new online annuity comparison site, found life for this group certainly isn’t slowing down.
Maisha Frost reports in the Telegraph, 10th October 2013
Alarming research by leading think-tank the International Longevity Centre UK and the University of Bristol has highlighted the huge number of over 50s who still have outstanding mortgages, and found that 13 per cent of these are 'struggling to make repayments'.
Older pensioners are among the worst affected and some are at serious risk of losing their homes, with the ILC finding that a quarter of over 75s with mortgages still owed 25 per cent or more of the value of their home, while five per cent owed more than half the value.
Adam Uren reports for Thisismoney.co.uk, 28th September 2013
Official population figures show a sudden rise in the number of people over the age of 90 in the two last two years, partly triggered by the spike in births in the immediate aftermath of the First World War.
According to the latest population estimates from the Office for National Statistics, the number of people over 90 across the UK has passed half a million for the first time.
Over 90s are now by far the fastest growing section of the population apart from centenarians – increasing by 33 per cent in the last decade, twice the rate for most other age groups.
Although there are many fewer people over 100, the numbers of centenarians have increased by three quarters in a decade while the numbers surviving past 105 have almost doubled.
It is “not fair” that people who have contributed £100,000 in National Insurance over the course of 30 years receive the same state support as those who have been paying tax for just two years, according to Liam Byrne.
In an interview with The Sunday Telegraph, Mr Byrne says young people would be forced to wait and work for longer before becoming eligible for benefits if Labour wins the next election.
Finally regulators and the Government are acting on rip-off pension charges – in what is a major boost for a Telegraph campaign to end the scandal. But Your Money is concerned that the proposed crackdown is inadequate.
We continue to unearth shocking cases such as that of Martin Williams, pictured, whose pension charges were so high that it made financial sense for him to forfeit almost half of his fund just to move it somewhere cheaper.
Dan Hyde writes in The Telegraph, 23es September 2013
Firms that overcharge for managing pensijons on behalf of millions of workers are to have their fees capped under new legal curbs being drawn up by the government.
Steve Webb, the pensions minister, is to announce a consultation over the policy following concerns that many workers and ex-employees are facing excessive charges.Rajiv Sayel reports in The Guardian, 19th September 2013
Retired? A mother-of-two? Aged in your 70s? Then you're probably feeling pretty pleased with yourself about now.
Britain's ladies of leisure are the happiest in the country, a new study carried out by Trinity Mirror's Data Unit has found.Report in the Mirror, 17th September 2013
Young adults will suffer the worst retirement conditions of any generation alive today, a study reveals.
It warns those aged 18 to 31 – the so-called ‘Generation Y’ – will be crippled by problems such as a poor state pension, rising life expectancy, record student debts and high property prices.
Researchers asked 2,000 adults about their retirement fears.
A third of those surveyed said Generation Y ‘will have it the worst when it comes to funding their retirement’.Becky Barrow reports in the Daily Mail, 28th August 2013
Older savers waiting to take their pension could see hundreds of pounds shaved off the best payout rates before the end of the year, economists have indicated.
These are the rates on annuities, which 400,000 people use each year to turn their pension into retirement income.
Women over the age of 50 should be entitled to 'granny leave' to help them care for elderly parents and grandchildren, a leading think tank has claimed.
The Institute for Public Policy Research ( IPPR) says thousands of women over 50 are being forced to give up work because of the demands of looking after familty members.
The think tank suggests that 'Granny leave' could last for up to six months and would give grandparents the statutory right to return to jobs following their time off
The number of workers aged over 50 has hit record levels, with two million more in jobs than just 15 years ago.
It is estimated that by 2020 a third of the workforce will be over 50 as people remain in good health and live longer.
Ministers say older workers have a wealth of skills that are key to strengthening the economy and have told businesses to do more to retain them.Tamara Cohen reports in The Mail, 27th August 2013
A generation of "tomorrow's pensioners" are plagued by money worries, with one in four people in their fifties afraid that they will lose their home because they are falling behind on payments.
The research from charity Age UK makes for sober reading and the very best financial plans do start as early as possible, but it's never too late to make a difference – if you've reached middle age and your savings have fallen short, there is still time to put a solid strategy in place.Chiara Cavaglieri writes in The Independent, 10th August 2013
Mathew Jenkin writes in The Guardian, 2nd August 2013
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