Warnings have just been issued in relation to cold callers as your details may have been given to unscrupulous people.
There’s a 70 year old alive today who will be the first Britain to reach the age of 120 years old. Our first 150 year old is being born about now.
The number of people living over the age of 100 has reached a record high.
In 2012 there were 13,350 centenarians living in the U.K. the Office for National Statisics has reported.
Of these, 660 were at least 105 years old – another record.
Over the last 30 years there has been a five-fold increase in the number of people who reach the milestone birthday, accordingn to the office’s report, called Estimates of the Very Old.
In the last decade alone, the number of centenarians has increased by 73%
We spend our working lives looking forward to an old age in which we can happily indulge in holidays and hobbies – but now it seems the typical nest egg put aside will vanish just seven years after retirement. The result is that the average Briton will have to contend without any savings at all for the final 12 years of life, a report warns. People in the U.K. are less prepared for retirement than any of 14 other countries. The average Briton wants to retire ‘punctually’ at 65 and believes they would need about £22,500 a year to live comfortably. This could come from State Pension, company pension, income from savings and dividents from investments. But a report warns that savings will typically run out after seven years! For those retiring at 65, their nest egg will have shrunk to zero by the age of 72.
However, average life expectancy is 84 – leaving 12 years after the nest egg is gone. For many the gap will be even longer. The most common age of death in England and Wales is 85 for men and 89 for women, according to the Office for National Statistics. It means the typical man will be left to survive without any savings for 13 years and the typical women for 17 years. Few of working age are prepared to make the necessary sacrifice for the future. Former Pensions Minister, Steve Webb said the report was ‘a startling reminder of the problems we are facing by failing to save for our retirement’.
Seminar – Will you have Peace of Mind in Retirement?
A Special Seminar was organised in Beeston, Nottingham, with advice on a problem many elderly people face – selling their home to fund residential or nursing care.
Peace of Mind in Retirement is designed for anyone over the age of 65 or with elderly parents.
The half-day course, run by the Nottingham and District Pre-Retirement Council, will only take place if sufficient interest is shown.
The demand for long-term care is increasing as people live to an older age. According to a Royal Commission Report, the number of people over 65 has increased by 400% since 1900 and doubled since 1931.
And the amount of care people need is also increasing, with one in five men and one in three women over the age of 65 requiring some form of residential care.
Phil Whitt of the pre-retirement council said there was an expectation among the public that the State should provide for care as people get older but this was not always the case. He said “As pressure on the State increases, it is important for people to plan for what care they might need in the future. The reality is that elderly people may end up selling their home to fund the cost of staying in a residential or nursing home.” The average weekly fee for a single room in a residential care home is rising and is even higher in a nursing home because of the cost of additional health care.
The Seminar will be opened by a Course Director of the Nottingham and District Pre-Retirement Council, who will speak about quality of life, including what benefits the State may provide. A representative from local Solicitors will give a guide through the legal minefield of long-term care. Independent financial advisers regulated by the Personal Investment Authority will give advice on protecting your future, including estate planning and making provision for longer-term care.
The panel will also answer questions.
The Seminar starts at 9.30 a.m. and ends with lunch at l.00 p.m. and a small fee will be raised to cover lunches.
For further details or an information pack contact,
Phil Whitt – course co-ordinator
A former Lord Mayor of Nottingham, Cllr. John Hartshorne, attended a Pre-Retirement Course at the Council House, organised by the Nottingham and District Pre-Retirement Council.
He said: “The course was very informative and covered a wide range of subjects, including Finance, Health, Income Tax, Pensions/Benefits and included pointers on how to get the best out of retirement for your own individual circumstances. I would recommend anybody who is within retirement age to seriously consider going on the course.”
The Course was held at the Council House and he joined city council employees who were there to pick up tips and advice. He was amazed at the amount of information appertaining to retirement and certainly wouldn’t have wished to have missed out on attending.
The current Lord Mayor of Nottingham attended our AGM and had the following to say….
“I have read with interest the amount of work the Nottingham and District Pre-Retirement Council do for the citizens of Nottingham. I would like to pay tribute to the Course Directors, Speakers and Committee for the sterling work they have done during the year. Without their input, the courses would not go ahead. Many people coming up to retirement are not aware of the impact from chaning their life-style and it would appear that the Nottingham & District Pre-Retirement Council are doing all they can to promote their organisation, thereby speading the word to the people of Nottingham. I, too, will do all I can to let people know of the service you provide and wish you a successful year.”
In 2018 the Nottingham & District Pre-Retirement Council celebrate their 51st Birthday. They have been based on the High Road at Beeston for 38 years and before this in Nottingham City Centre.
Each year, over 200 people have attended our courses and have gained valuable help and support. We have received so many letters, e mails and comments saying how beneficial the courses have been. We have had former Lord Mayors, and local mayors attending as delegates and they have spread the word on how much they have enjoyed the course.