Over-50s, referred to recently in the media as the ‘Saga Generation’ are reportedly experiencing a pension scheme squeeze as a result of the credit crunch.
Final salary pension schemes are coming to an end, with increased value of houses also not providing the guarantee of revenue that it did before.
A survey conducted by the Daily Telegraph indicated that almost 60 per cent of pensioners felt worse off than this time last year, with some 32 per cent failing to afford home heating as a result of increased energy prices .
Those people currently in their 30s and 40s, pensions experts say, should be preparing for the fact that retirement will not be as comfortable as it was for their parents. Experts say that the golden age of pensions is coming to an end.
Pension squeeze affects older generation
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Pension squeeze affects older generation
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