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reduce bad practice by managing agents. These have had limited success in reaching all parts of the retirement housing market. There needs to be an overall improvement in the delivery of advice and information ... should be a greater degree of standardisation and clarity in leasehold contracts, especially in the retirement housing sector. Alternatively, the adoption of the commonhold system could offer greater consistency
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of the Default Retirement Age (DRA) by the UK Government in 2011 was a major step forward in providing equal rights for older employees. The DRA allowed employers to force people to retire at age 65 regardless ... during the economic downturn since 2008. However, this is not caused by older workers or delayed retirement. In fact, there is often a correlation between high employment rates for older and younger workers
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workers will have to save more than the minimum required amounts if they are to build a sufficient retirement income. Whether or not they will do so is yet to be seen. Moreover, the scheme comes too late for ... the pensions industry and underestimate just how much they will need to have saved by the time they retire. The government must ensure that the basic contribution levels under auto enrolment are seen by its
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homes 13 Integrating housing with health and social care 19 Building for the future – sheltered and retirement housing 27 Housing wealth and housing choices 35 Notes 41 Age UK is a charity that aims to improve ... have helped us develop our work on retirement housing over the years. July 2014 2 3 Key facts Currently 9.3 million households are headed by a person over retirement age. By 2033, this is expected to increase
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participant might want to do for the rest of their working lives. When and how they envisage retiring (i.e. making the transition). An assessment of their transferable skills, occupational skills ... also believe that as people plan their later working lives and try to make their transition to retirement a reality, then considering the adequacy of pension provision is also important. This discussion
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the three-month waiting period). Extending coverage alone will not ensure adequate pensions in retirement – and we do our future pensioners a grave disservice if we do not acknowledge this. Contributions ... aid of a mid-life career review and pensions dashboard, and facilitated by simplifying choices at retirement through default pathways. The Government can also support engagement by effective regulation to
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benefits are given up it is likely that many women will lose out, adding to gender inequality in retirement incomes. There are considerable risks to consumers in this marketplace – DB schemes have a ... transfers and safeguarded benefits as part of its Retirement Outcomes Review. Everyone transferring out is potentially risking the lion’s share of their retirement income, and this issue should be taken seriously
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of 32 Factsheet 12 Planning your retirement: money and tax May 2024 Inside this factsheet This factsheet looks at common money and tax issues connected with retirement, including dealing with pensions ... for people from age 50, although the information is relevant to people looking at planning their retirement at any age. The following factsheets may also be of interest: ⚫ FS19 State Pension ⚫ FS91 Pension
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people need time to adjust their plans and have the opportunity of achieving an adequate income in retirement. Age UK’s position has long been that people should have at least 10 years’ notice of any rise ... should have an adequate income in retirement. As a charity our focus is on the more disadvantaged groups, many of whom are reliant on the State Pension in retirement, so will be particularly affected
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finances, health and self-esteem. Age discrimination in employment is now illegal and the Default Retirement Age was abolished in 2011. However perceptions and stereotypes of older workers – usually negative ... work better. 2 Older workers may also need to think differently about work and their own retirement aspirations than they would have done in the past. This might include consideration of their motivation
