Life expectancy explained
Get ready for a long retirement
One of the great advantages of medical breakthroughs is that many people are living longer. Living longer means enjoying a longer and active retirement.
How long could you be retired?
The average man retiring at age 65 today can expect to live for a further 19 years – on average a 65 year old woman can expect to live for a further 22 years.
So it’s possible that you could be retired for 25 years or more.
Source: www.pensionspolicyinstitute.org.uk
What does this mean financially?
Living longer could have major financial implications for your retirement income:
- You could need a bigger pension pot – the longer you live, the more effect inflation will have on the purchasing power of your retirement income. A bigger pension pot gives you a better chance of having a pension income that keeps pace with inflation
- You can expect to live longer in poor health – so you may also have to pay for long term care, which can be very expensive
About pensions
They're the cornerstone of every retirement plan. Find out about stakeholder pensions, personal pensions and self invested personal pensions.
Inflation explained
Inflation can seriously erode the value of your pension fund, and your retirement income.
Get in touch
We’re here to help you cut through the complexities of retirement.
Contact us today for an appointment with one of our Financial Planning Managers.
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Glossary
Still struggling with retirement planning jargon? Check out those tricky terms with our glossary.