Jun 11 2008
The prospect of living a longer than average life need not be a financial burden and can be an opportunity for further enjoyment, it has been suggested.
According to the Life Trust company, adults in the UK are seeing their life expectancy increase year by year but many look likely to struggle financially if they reach their 90s or even hit three figures.
In fact, research by the financial services firm found that 40 per cent of people are worried that their current efforts at saving for retirement would not be enough if they lived beyond the average expectancy.
"People need to really consider what they want to achieve in these years and put plans in place to ensure they can afford it," Andy Briscoe, chief executive of Life Trust.
A report earlier this week from Skipton Building Society suggested that pensioners around the country are among those being most acutely affected by the rising rate of inflation.
