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Retirement Matters!

The medics tell us that we are living longer. On average, a man aged 60 will survive another 20 years, and a woman nearly another 24. So much for the good news - the bad news is that because we are living longer, unless we have made adequate financial provision, many of us are exhausting our capital.

Interest Rates

The average net deposit interest rate in 1990 was 9.0% By 2004, the figure was around 1.9% - which after allowing for inflation actually meant that cash sitting on deposit was shrinking in real terms. So, we are living longer but our building society accounts are delivering a much lower return - time to do some rethinking?

Fact

The UK’s shortfall in retirement provision is currently standing at £57Bn, more than double what it was in 2003!