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Forty per cent of UK’s over-60s “unprepared for retirement”

Published: 17 March 2016

Retirement


Are you ready to retire? According to a new study carried out by wealth management firm Sanlam, 40 per cent of the UK’s working over-60s population are unprepared for their retirement, while 39 per cent don’t know the value of their pension pot. 
The report also suggested that the fixed retirement age in the UK could be a thing of the past, with over a third of pre-retirees not envisaging being able to retire until after 70, while 13 per cent think they’ll be working after the age of 75. 
Nick Parry, a director at Sanlam, said: “The research shows that the era of annuities and traditional pension planning is over. Unless the pension industry grasps the current climate and truly understands changed consumer needs, it will not be able to provide appropriate products and advice.”
There are many reasons why people turn to franchising, one is to encourage an early retirement and another is to save for later in life. So, if you’re worried about your nest egg, keep looking for the right franchise opportunity.  

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Business Franchise magazine is the official publication of the British Franchise Association-supported Franchise Exhibitions.

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