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Pensioners Forced Back to Work
13/10/2011
Instead of enjoying retirement, many individuals’ of pensionable age are being forced back into work to maintain their standard of living. This comes at a time when pension payout rates are crashing and the rate of inflation is soaring.
Peopleperhour.com, one of Europe’s biggest online job sites, reported that there has been a 117% increase in the number of newly retired looking for jobs in the last year.
Those converting their pension pots into income are being hit the low interest rates that have been put in place to aid economic recovery. An individual retiring today with £100,000 will be £1,600 a year poorer than if they stopped working 3 years ago.
Homeowners aged over 55 years who are concerned about their pension and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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