Tony Lyons, WAY Group, comments in the Daily Express on the news people are living longer.
“As the ONS data shows, we are now living far longer than the generation which approached retirement in the 1980s. Longer life expectancies – primarily due to major breakthroughs in medical knowledge and better diets and fitness levels – plus the fact that far fewer people smoke – means that there are many more post work ‘golden’ years to be financed.”
“The more fortunate will be recipients of so-called gold plated final salary pensions, but for the majority who do not have these, solid retirement financial planning and retirement advice is critical.”
“Longer lives often also mean higher property values at the time of death, so inheritance tax and formal estate planning issues are also imperative as millions of people are now sitting on immensely valuable properties which will ultimately attract the attentions of the Chancellor and possibly a 40 per cent IHT hit.”
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